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Campbell Soup sells Bolthouse Farms brand to private-equity firm for $510 million

Tonya Garcia

Campbell Soup Co. has sold its healthy food brand Bolthouse Farms to Butterfly, a Los Angeles-based private-equity firm, for $510 million in cash. Campbell Soup announced last year that it was in talks to see the fresh food portion of the business. Campbell Soup bought Bolthouse Farms in 2012 for $1.55 billion. Butterfly Operating Partner Jeff Dunn will become chief executive of Bolthouse Farms. Dunn helped sell Bolthouse to Campbell Soup, and served at Bolthouse's CEO from 2008 to 2012. He led the brand while at Campbell, until leaving in 2016. The transaction is expected to close in the summer. Campbell Soup stock is up 20.6% for the year to date, outpacing the S&P 500 index , which is up nearly 16%.