Campbell Soup to sell Bolthouse Farms, fresh-foods business
A day after investment firm Third Point Capital pushed for a replacement of the entire Board of Directors at Campbell Soup Company, the Wall Street Journal reported that Campbell is in talks to sell its fresh-foods business, including Bolthouse Farms to former Bolthouse CEO Jeff Dunn. Dunn, who formerly headed Campbell’s fresh-foods business helped with the $1.6 billion Bolthouse-Campbell deal in 2012. People familiar with business, estimate the Campbell Fresh division sale could net between $500 million and $700 million.
Campbell made an announcement in late August saying that it would explore the sale of its fresh and international businesses, whose cumulative net sales amounted to roughly $2.1 billion.