Campbell Soup Company (NYSE: CPB – news) today announced it has reached agreement to sell its MacFarms of Hawaii macadamia nut orchard and processing facility to Blue Diamond Growers, a California based cooperative. The terms of the transaction were not disclosed.
Campbell said the divestiture includes all the operations and assets of MacFarms. The MacFarms orchard, located on the Big Island of Hawaii, is the largest macadamia nut orchard in the world.
MacFarms produces and sells a wide range of high quality macadamia nut products for both industrial and retail markets. MacFarms has a sales and distribution agreement with Blue Diamond Growers, and most of MacFarms’ industrial product is sold under the Blue Diamond brand. Net sales in the fiscal year ended July 1999 were approximately $29 million.
“The sale of MacFarms will enable us to focus on our core biscuit, soup, and sauce businesses in the Asia/Pacific Region,” said Andrew K. Hughson, President – Campbell Asia/Pacific.
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