Campbell Soup Selling Sauce, Dips Business

The move is part of a strategy focused on divesting the Campbell Fresh and Campbell International businesses to reduce debt and improve product focus.


(BUSINESS WIRE)  Campbell Soup Company has announced plans to sell its Garden Fresh Gourmet business unit to Fountain of Health USA, a maker of hummus, dips, variety packs, prepared salads, pâtés and frozen desserts. Terms of the transaction were not disclosed. Garden Fresh was acquired by Campbell in 2015 for $231 million.

Garden Fresh Gourmet is part of the Campbell Fresh division, which also includes Bolthouse Farms. Campbell recently announced the sale of its Everett, Washington, refrigerated soup plant that was also part of Campbell Fresh.

As outlined in August 2018 as part of its Board-led strategy and portfolio review, Campbell is in the process of divesting both its Campbell Fresh and Campbell International businesses to increase the company’s focus, significantly reduce debt and strengthen its balance sheet. The processes to sell Bolthouse Farms and Campbell International are both on-track, and Campbell expects to name buyers by the end of fiscal 2019.

Garden Fresh Gourmet's line includes refrigerated salsa, hummus, dips and tortilla chips. These products are offered under both the Garden Fresh Gourmet brand as well as private labels. Garden Fresh Gourmet hosts operations in Ferndale and Grand Rapids, Michigan. The transaction is subject to customary closing conditions and is expected to close in Campbell’s fiscal 2019 third quarter.

Founded in 1990, Fountain of Health USA is a leading North American food manufacturer of dips, hummus, prepared salads, pâtés, and frozen desserts.