Campbell Completes Sale of Kelsen Group to Ferrero

Luxembourg, LU / Camden, NJ. (fg / csc) CTH Invest, a Ferrero affiliated company, announced it has completed the acquisition of Kelsen Group A.S. from Campbell Soup Company. Kelsen is the maker of fine cookie brands «Royal Dansk» and «Kjeldsens», and has distribution networks globally with products sold in more than 100 countries around the world. As part of the transaction, CTH Invest will take over the two production facilities in Nørre Snede and Ribe, whilst retaining the management and the approximately 400 employees of the businesses. CTH Invest is a Belgian Holding Company affiliated to the Ferrero Group.

Campbell and Ferrero announced the divestiture respective acquisition in July 2019. Campbell will use the proceeds from the divestiture to reduce debt. On August 02, Campbell also announced a definitive agreement to sell Arnott’s and certain of Campbell’s International operations to KKR for approximately 2.2 billion USD. Campbell continues to expect that transaction to close in the first half of fiscal 2020.