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Campbell To Sell Bolthouse Farms, Continue Exit From Fresh Foods Business

December 3, 2018: 12:00 AM EST
Campbell Soup is casting its net wide for potential buyers of its money-losing carrot, smoothie and fruit beverage company Bolthouse Farms, continuing its withdrawal from the fresh food industry that proved to be a poor fit.  The company distributed the financial books for Bolthouse, and has begun the process of divesting its Garden Fresh Gourmet business, purchased in 2015 for $231 million. Among the potential buyers for Bolthouse is former Bolthouse CEO Jeffrey Dunn, who has talked to private equity funds to help raise money to fund a bid. Campbell paid $1.55 billion for Bolthouse Farms in 2012, when the brand had more than $100 million in earnings before interest depreciation and amortization.
Lauren Hirsch , "Campbell launches sale of Bolthouse Farms business", CNBC.com, December 03, 2018, © CNBC LLC
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