Campbell Soup Gets Ready to Sell Bolthouse Farms
Campbell Soup has sent out the financial books for Bolthouse Farms to potential buyers. The struggling brand announced plans to sell off Bolthouse Farms and other fresh food brands earlier this year. Campbell’s is working on reducing debt following its acquisition of Snyder’s-Lance for $6.1 billion. Previous CEO Denise Morrison planned to move into fresh food brands as sales of canned soups began to lag. But the transition has not paid off for the company.
“Bolthouse Farms and Garden Fresh Gourmet are attractive businesses with strong brands, and we’re pleased with the high level of interest in each from both strategic and financial buyers…” Thomas Hushen, a spokesperson for Campbell said.