Camden / NJ. (csc) Campbell Soup Company announced an agreement to sell the «Noosa» yoghurt business to Lakeview Farms LLC, a manufacturer of fresh dips, desserts and specialty products. Campbell’s purchased Noosa as part of the Sovos Brands Inc. acquisition in March 2024. At that time, Campbell’s shared its intention to evaluate strategic alternatives for the brand, as the yogurt category is not core to Campbell’s strategy.
The Noosa business generated net sales of USD 177 million for the last 12 months ending October 2024. Campbell’s does not expect the divestiture to have a material impact to its fiscal 2025 financial results. The transaction is expected to be dilutive to earnings per share by approximately USD 0.01 in fiscal 2025.
Mick Beekhuizen, Executive Vice President and President, Campbell’s Meals + Beverages said, «Noosa is a well-run business supported by a great team. We are pleased that its new home will be with a buyer with a strategic focus on the refrigerated category. The sale will drive greater focus on our portfolio of leadership brands.» The closing of the transaction is subject to customary closing conditions, including regulatory approvals. Closing is expected in the first quarter of calendar year 2025.
OTHER TOPICS FROM THIS SECTION FOR YOU:
- Campbells: Shareholders Approve Company Name Change
- SSP: signs deal to operate new outlets at Vilnius airport
- Coffee Holding: Announces Purchase of Empire Coffee
- Hershey: Expands Sweets Portfolio with Acquisition
- DPC Dash: Celebrates Opening of its 1’000th Store in China
- Kerry Group: intends to sell Kerry Dairy Ireland
- Turpaz acquires German flavor company Schumann
- Flowers Foods: Reports Third Quarter 2024 Results
- Farmer Bros.: Reports Fiscal Q1-2025 Financial Results
- Red Robin: Reported Results for Fiscal Q3-2024
- Yum China: Reports Third Quarter 2024 Results
- Utz Brands: Reports Third Quarter 2024 Results
- Lancaster Colony: Reports Q1-2024 Sales And Earnings
- CCC Announces New Reporting Lines for Costa Coffee
- Union Capital: Completes Sale of FitCrunch and Bakery Barn
- Fazer: electrifies steam production at confectionery factory
- DoorDash: Releases Q3-2024 Financial Results
- Publix: Reports Q3-2024 Results and Stock Price
- Chipotle: Announces Third Quarter 2024 Results
- Kesko Group: Announces 9M-2024 Financial Results