Campbell Soup to sell some European brands to CVC for $541 mln

Reuters

Oct 1 (Reuters) - Campbell Soup Co said it wouldsell some of its European canned soups and meals brands toprivate equity firm CVC Capital Partners for 400 million euros($541 million).

Campbell said in August that it was in talks to sell somebrands to CVC Capital as it focuses on its core North Americansoup and meal business and high growth areas.

CVC Capital will buy brands including Liebig and Royco inFrance, Erasco in Germany, Bla Band in Sweden and Devos Lemmensand Royco in Belgium.

The deal does not include the Kelsen Group in Denmark, whichCampbell acquired in June to boost its international presence.

Campbell said it intends to use the proceeds to pay downdebt and for other general corporate purposes.

The company is being advised by Allen & Overy LLP. CVCCapital is being advised by Leopold Capital Partners, Barclays,Cleary Gottlieb Steen & Hamilton LLP and Ernst & Young.

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