Large apparel companies are selling businesses amid the struggles of department-store chains, which are historically their best customers.
The $55 billion acquisition comes at a multiple of 23 times Kraft's EBITDA. Aggressive cost-cutting might lower that figure, but Campbell and ConAgra would be easier to digest.
Kraft shareholders will own a 49% stake in the newly combined company, which will be named Kraft Heinz Co., and receive a $10 billion dividend.
A breakup of Campbell Soup may be the best recipe for the food giant to revive investor interest.
Justin's, the Boulder, Colo.-based maker of nut butters and chocolate peanut butter cups, could be the latest company in the natural and organic space to maintain its independence.
The agricultural giant's acquisition of Wild Flavors last year is likely to be followed by a spate of new transactions.
After Noosa Yoghurt attracted a premium when it sold a stake to Advent International, more high-protein food businesses hit the block. But Daiya's auction failed to hit its valuation target.
Food industry watchers suggest slow-growing giant ConAgra should simplify its structure by splitting off its private-label business from its branded operations.
Privately held DHR International Inc. remains intent on buying CTPartners Executive Search Inc. (CTP), despite the CEO of the target recently turning down an offer valued at $61 million.
The maker of natural and organic food and consumer products wants to double the size of its personal care products portfolio to up to $400 million in sales.