Campbell: Sells Emerald Nuts Business to Flagstone Foods

Camden / NJ. (csc) Campbell Soup Company announced the sale of the Emerald nuts business to Flagstone Foods, one of the largest manufacturers and distributors of private label healthy snacks in North America. Campbell acquired the Emerald nuts business as part of the 2018 Snyder’s-Lance Inc. acquisition. The Emerald business generated net sales of USD 66 million in fiscal 2022 and USD 46 million for the nine-month period ended April 30, 2023. The company does not expect the divestiture to have a material impact to its fiscal 2023 financial results. The transaction is expected to be dilutive to earnings per share by approximately USD 0.01 in fiscal 2024, reflecting the timing of a transition service agreement and cost actions. Chris Foley, Executive Vice President and President, Campbell Snacks: «The sale of the Emerald business is part of our ongoing strategic process to create even greater focus on driving accelerated growth across our Snacks division and power brands.»