Saturday, October 12, 2024

Campbell sells Emerald nuts business to Flagstone Foods

Campbell Soup Company has sold the Emerald nuts business to Flagstone Foods, one of the largest manufacturers and distributors of private label healthy snacks in North America.

Terms of the transaction were not disclosed.

Campbell acquired the Emerald nuts business as part of the 2018 Snyder’s-Lance, Inc. acquisition. The Emerald business generated net sales of $66 million in fiscal 2022 and $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.

Chris Foley, Executive Vice President and President, Campbell Snacks, said: “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.”

Troutman Pepper Hamilton Sanders LLP and Barclays acted as exclusive advisors to Campbell on this transaction.

A message from the Editor:

Thank you for reading this story on our news site - please take a moment to read this important message:

As you know, our aim is to bring you, the reader, an editorially led news site and magazine but journalism costs money and we rely on advertising, print and digital revenues to help to support them.

With the Covid-19 pandemic having a major impact on our industry as a whole, the advertising revenues we normally receive, which helps us cover the cost of our journalists and this website, have been drastically affected.

As such we need your help. If you can support our news sites/magazines with either a small donation of even £1, or a subscription to our magazine, which costs just £31.50 per year, (inc p&P and mailed direct to your door) your generosity will help us weather the storm and continue in our quest to deliver quality journalism.

As a subscriber, you will have unlimited access to our web site and magazine. You'll also be offered VIP invitations to our events, preferential rates to all our awards and get access to exclusive newsletters and content.

Just click here to subscribe and in the meantime may I wish you the very best.
















Latest news

Related news

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close