CVC Capital Partners ("CVC"), a leading global private equity firm, today announced that funds managed and advised by CVC have entered into exclusive final negotiations with Campbell Soup Company following a firm offer made by CVC to acquire certain European activities (excluding the UK, Ireland, Middle East and Africa activities) of the Campbell Soup Company ("Campbell Europe").
Campbell Europe is a leading consumer food business primarily active in Belgium, France, Germany, Sweden and Finland. Campbell Europe owns a leading brand portfolio of heritage consumer brands primarily in soups, sauces and bouillons such as Devos Lemmens, Royco, Liebig, Déli Soup, Erasco, Blå Band, Touch of Taste and Lacroix. In fiscal 2012, Campbell Europe generated annual net sales of approximately €400 million.
Campbell Europe is headquartered in Puurs, Belgium and employs around 1,300 people.
Commenting on the transaction, Steven Buyse, Senior Managing Director of CVC Capital Partners said: "CVC is delighted to have entered into exclusive final negotiations for the acquisition of Campbell Europe. Campbell Europe is a strong business with iconic brands, experienced management and dedicated employees. CVC is committed to successfully growing the business further and to supporting its leading brand portfolio."
The contemplated transaction is subject to the information and consultation of employee representatives and to the clearance by the relevant European competition law authorities.
CVC is advised by Leopold Capital Partners, Barclays, Cleary Gottlieb Steen & Hamilton LLP and Ernst & Young. As part of the proposed transaction, CVC has raised fully committed senior debt financing with Rabobank, ING and BNP Paribas Fortis as joint underwriters and bookrunners.
CVC Capital Partners
CVC is one of the world's leading private equity and investment advisory firms. Founded in 1981, CVC today has a network of 21 offices and 280 employees throughout Europe, Asia and the US.
Currently, CVC manages funds on behalf of over 300 investors from North America, Europe, Asia and the Middle East, who entrust their capital to CVC for periods of 10 years or more. To date, CVC has secured commitments of over US$60 billion in funds from a diverse and loyal investor base, completing over 300 investments in a wide range of industries and countries across the globe, with an aggregate transaction value of over US$150 billion. For further information, please visit www.cvc.com
CVC Capital Partners
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