Campbell Soup ( CPB) said it is exploring alternatives for its businesses in the U.K. and Ireland, including a possible sale.

Goldman Sachs is advising the company on the review.

"Our portfolio in the U.K. and Ireland includes some strong brands, but it is highly fragmented and has not met our company's growth expectations," Campbell said. "It is time to explore strategic alternatives as we strive to optimize the value of these businesses to our shareowners. We remain committed to pursuing the best opportunities for profitable growth in international markets as well as in North America."

Brands under review include Homepride sauces, Oxo dry stocks, Batchelors dry soup and meals, Erin dry soups and sauces, and Fray Bentos meat products.

Shares of Campbell Soup closed at $32.21 Thursday, about a dollar below their 52-week high.