USA: Campbell Soup - DBRS comments on acquisition of Unilever's European culinary brands
Campbell Soup Company ("Campbell" or "the Company") has announced an agreement to purchase several market-leading European culinary brand businesses from Unilever for EUR1 billion (US$950 million). The acquisition expands and strengthens Campbell's market presence in European dry soup and bouillon markets. This acquisition makes Campbell the market leader in the U.K., Belgium, France, Germany, Sweden and Finland, with 30% of the European market compared with 20% previously, with all but one of the acquired brands number one or two in their respective markets. The combined brands should add over $400 million sales and $50 million EBIT to Campbell going forward. If included for F2000, these businesses increase Campbell Europe's sales from $568 million to $982 million pro forma. The acquired businesses have 58% of sales from the instant soup, bouillon, and noodles segment.
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-food gives you the widest food market coverage.
Paid just-food members have unlimited access to all our exclusive content - including 17 years of archives.
I am so confident you will love complete access to our content that today I can offer you 30 days access for $1.
It’s our best ever membership offer – just for you.
Dean Best, editor of just-food
- General Mills sales woes continue - analysis
- Comment: Meal kits in US - don't believe the hype
- Why personalisation will take-off in US food
- US food next wave on display at Winter Fancy Food
- Analysis: Chocolate sector's deforestation pledge
- Kraft Heinz cuts jobs in US, Canada
- Fonterra cuts earnings forecast
- Unilever invests in Dutch meat substitute project
- Immigration crackdown "risk" for US dairy industry
- Lactalis fails to hit threshold to delist Parmalat