Mignini said, “Kelsen’s combination with Campbell will represent a wonderful marriage of complementary skills and capabilities. Its strong position in China and Hong Kong will enhance our presence in the region. At the same time, Kelsen’s talented management team will have the opportunity to leverage Campbell’s marketing, consumer insights, R&D and supply chain expertise to grow the business in both new and existing markets.”
Brian Rønsholdt, CEO of Kelsen Group, said, “Kelsen has been providing quality products to consumers for over 75 years. We look forward to joining Campbell and its family of trusted brands. Campbell’s consumer-focused capabilities and wide-ranging experience in biscuit production will provide new resources for enhancing Kelsen’s product lines and strengthening our engagement with consumers around the world.”
The terms of the transaction were not disclosed. Closing is subject to regulatory approvals and other customary conditions. Campbell expects the acquisition to be modestly accretive beginning in 2014.
Bruun & Hjejle in Denmark and King & Wood Mallesons in Hong Kong served as Campbell’s legal counsel. Maj Invest and Kelsen investors were advised by FIH Partners and Kromann Reumert served as legal counsel.About Campbell Soup Company Campbell Soup Company is a manufacturer and marketer of high-quality foods and simple meals, including soup and sauces, baked snacks and healthy beverages. Founded in 1869, the company has a portfolio of market-leading brands, including “Campbell’s,” “Pepperidge Farm,” “Arnott’s,” “V8” and “Bolthouse Farms.” Through its corporate social responsibility program, the company strives to make a positive impact in the workplace, in the marketplace and in the communities in which it operates. Campbell is a member of the Standard & Poor's 500 and the Dow Jones Sustainability Indexes. For more information, visit www.campbellsoupcompany.com and https://twitter.com/CampbellSoupCo. Forward-Looking Statements This release contains "forward-looking statements." Forward-looking statements can be identified by words such as "anticipates," "intends," "plans," "believes," "estimates," "expects" and similar references to future periods. Examples of forward-looking statements include, but are not limited to, statements we make on the expected impact of the Kelsen Group acquisition. Forward-looking statements are based on our current expectations and assumptions regarding our business, our industry and other future conditions. Forward-looking statements are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Our actual results may differ materially from those contemplated by the forward-looking statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements include our ability to realize the anticipated benefits from the acquisition of Kelsen Group and the other factors described in the company's most recent Form 10-K and subsequent SEC filings. We undertake no obligation to update these statements to reflect new information or future events.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV