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CVC Capital Partners to acquire certain European activities of Campbell Soup

Funds managed by private equity firm CVC Capital Partners have entered into exclusive final negotiations with Campbell Soup Company following a firm offer made by CVC to acquire certain European activities (excluding the UK, Ireland, Middle East and Africa) of the company.

Campbell Europe is a consumer food business primarily active in Belgium, France, Germany, Sweden and Finland. Campbell Europe owns a portfolio of heritage consumer brands primarily in soups, sauces and bouillons such as Devos Lemmens, Royco, Liebig, Déli Soup, Erasco, Blå Band, Touch of Taste and Lacroix.
In fiscal 2012, Campbell Europe generated annual net sales of approximately EUR400m.
Campbell Europe is headquartered in Puurs, Belgium and employs around 1,300 people.
Steven Buyse, senior managing director of CVC Capital Partners, says: “CVC is delighted to have entered into exclusive final negotiations for the acquisition of Campbell Europe. Campbell Europe is a strong business with iconic brands, experienced management and dedicated employees. CVC is committed to successfully growing the business further and to supporting its leading brand portfolio.” 
The contemplated transaction is subject to the information and consultation of employee representatives and to the clearance by the relevant European competition law authorities.
CVC is advised by Leopold Capital Partners, Barclays, Cleary Gottlieb Steen & Hamilton and Ernst & Young. As part of the proposed transaction, CVC has raised fully committed senior debt financing with Rabobank, ING and BNP Paribas Fortis as joint underwriters and bookrunners.

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