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.
An extremely popular and reputable Italian Restaurant based in Flintshire, North Wales. The owner has worked extremely hard over the past few years to build up an outstanding reputation with the local community and beyond. The business currently cons...
LEASEHOLD
The business is a highly regarded authentic Italian restaurant with friendly staff and great food which ranges from pizza, pasta, fresh seafood, salads, great Italian coffee, Italian ice cream, homemade sausage rolls, paninis and a great selection of...
LEASEHOLD
Very well-established Worcestershire city-centre Restaurant, which benefits from an excellent location. It has been under the ownership of our clients since 1995 and is now being offered to the market as they wish to retire. Offers invited.
LEASEHOLD
|
15
|
|
Nov
|
Carpetright agrees to shareholder takeover deal | BUSINESS SALE
Carpetright has agreed a deal to be taken over by its larges...
|
14
|
|
Nov
|
Scale manufacturer taken over in MBO | MBO/MBI
Weighing scale manufacturer Marsden Weighing Group has been ...
|
13
|
|
Nov
|
Brighton energy firm appoints administrators | ADMINISTRATION
Brighton-based utilities company Toto Energy has gone into a...
Sign up to receive our acquisition alert emails to get your FREE guide
|
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