Mon, 06 May 2019 | BUSINESS NEWS
US food giant owner Campbell has announced it is considering the sale of its posh crisp brand Kettle after advisors were hired to consider the future of the company.
According to the Press Association, Barclays has been brought on to provide advice on a possible sale as the crisp business as Campbell looks to save money after recent profit warnings.
Kettle currently employs nearly 500 people across two sites in Norfolk and was originally purchased by American good group Snyder's-Lance, along with the Metcalfe's Skinny popcorn brand, as part of the purchase of Diamond Foods in March 2016. The company was then bought by the soup-making firm Campbell as part of its purchase of Snyder's-Lance in 2017.
According to the Press Association, Kettle could be worth between £50 million and £100 million, and is likely to be sold by the food giant as a whole business to interested buyers. However, the sale is coming after the UK arm dived into the red due to "very intense" competition in the UK market, which could prevent many potential buyers from coming forward with an offer.
The hiring of Barclays to advise on a possible deal follows a number of sales and agreements within the crisp sector in 2018, including 11 acquisitions. This included the sale of posh crisp makers Tyrell's and Pipers, which were purchased by Intersnack and PepsiCo, respectively.
Should Campbell decide to proceed with the sale of Kettle, it is likely to consider offers from prospective buyers soon. This sale will also coincide with the sale of its Bolthouse Farms business, as well as its international and fresh food business, which are being sold following pressure from its activist investor Dan Loeb.
A well-established licensed café and bar for sale, situated in the vibrant heart of West Didsbury village. West Didsbury is a sought-after suburban area of Manchester, located on the north bank of the River Mersey, just four miles south of Manchester...
LEASEHOLD
A well-presented traditional fish and chip shop, located in North East Worcestershire. Client has operated this profitable business for over four years however finds the moment appropriate to offer this excellent business onto the market due to other...
LEASEHOLD
Fantastic opportunity to acquire old established Public House & Restaurant located in Rhondda Cynon Taf. The venue is a focal point of close-knit community life currently operating on 7-day week.
FREEHOLD
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.