Global Processing

Campbell Soup considering selling businesses

March 27, 2006

Campbell Soup Co., said it is considering selling its businesses in Britain and Ireland, saying they have fallen short of its growth expectations, the Associated Press reports. The world''s largest soup maker, whose brands also include Pepperidge Farm baked goods and Godiva chocolate, said the businesses have annual sales of about $490 million — or about 20 percent of Campbell''s overseas business. The British and Irish businesses include brands such as Homepride sauces, OXO dry stocks and Batchelors dry soup and meals. Campbell hopes to decide by the end of its fiscal year on July 31 what to do with the brands. He said possibilities short of selling them all include running them with a European business partner or selling some lines and keeping others. The company has hired Goldman Sachs Group as its adviser.