Mon, 06 May 2019 | BUSINESS NEWS
US food giant owner Campbell has announced it is considering the sale of its posh crisp brand Kettle after advisors were hired to consider the future of the company.
According to the Press Association, Barclays has been brought on to provide advice on a possible sale as the crisp business as Campbell looks to save money after recent profit warnings.
Kettle currently employs nearly 500 people across two sites in Norfolk and was originally purchased by American good group Snyder's-Lance, along with the Metcalfe's Skinny popcorn brand, as part of the purchase of Diamond Foods in March 2016. The company was then bought by the soup-making firm Campbell as part of its purchase of Snyder's-Lance in 2017.
According to the Press Association, Kettle could be worth between £50 million and £100 million, and is likely to be sold by the food giant as a whole business to interested buyers. However, the sale is coming after the UK arm dived into the red due to "very intense" competition in the UK market, which could prevent many potential buyers from coming forward with an offer.
The hiring of Barclays to advise on a possible deal follows a number of sales and agreements within the crisp sector in 2018, including 11 acquisitions. This included the sale of posh crisp makers Tyrell's and Pipers, which were purchased by Intersnack and PepsiCo, respectively.
Should Campbell decide to proceed with the sale of Kettle, it is likely to consider offers from prospective buyers soon. This sale will also coincide with the sale of its Bolthouse Farms business, as well as its international and fresh food business, which are being sold following pressure from its activist investor Dan Loeb.
We are pleased to present to you this excellent high income generating business. Currently a running business, currently earning £20,000 p/w approx.
LEASEHOLD
Develops and produces innovative sauces and condiments, as well as a range of handmade, industry-specific frozen products, providing customers throughout the UK and Europe with a flexible and professional service.
FREEHOLD
Deeply embedded in its local community in a lucrative tourist hotspot the company has created multiple award-winning brands which it supplies through wholesale retail and ecommerce channels. Relationships are in place with several leading foodservice...
|
03
|
|
Aug
|
Private equity-backed CTS makes second acquisition of 2021 | BUSINESS SALE
Construction Testing Solutions (CTS) has completed the acqui...
|
03
|
|
Aug
|
Agricultural firm targeting acquisitions after strong results | BUSINESS NEWS
Agricultural firm NWF has said it will consider targeting ac...
|
02
|
|
Aug
|
TGM Partners scoops up manufacturing firms in double acquisition | BUSINESS SALE
TGM Partners, a company specialising in the acquisition and ...
Sign up to receive our acquisition alert emails to get your FREE guide
|
12
|
|
May
|
Oban-based construction contractor goes into administration | ADMINISTRATION
Scottish construction business Neil McGougan Limited has gon...
|
01
|
|
Dec
|
Railway operator enters administration | ADMINISTRATION
Following cash problems due to an extended closure, CairnGor...
|
01
|
|
Aug
|
Fray Bentos owner prepares for a sale | BUSINESS SALE
An information memorandum is due to be sent out to potential...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources