CAMDEN, N.J.--(BUSINESS WIRE)--Campbell Soup Company (NYSE:CPB) today announced it has completed the sale of its Generale Condimentaire (GECO) business to Lesieur, a company indirectly held by Sofiproteol, the financial arm of the French oilseed producer. Campbell announced the signing of the agreement on July 31, 2008. Financial terms of the sale were not disclosed.
The GECO business comprises sauce and mayonnaise products sold under the “Lesieur” brand in France and a manufacturing facility in Dunkerque, France, which employs 100 people. Campbell previously licensed the “Lesieur” name from Lesieur and made annual payments for the use of the brand.
Campbell will focus its business in France on driving growth in the simple meals category through its market-leading “Liebig” and “Royco” soup brands.
About Campbell Soup Company
Campbell Soup Company is a global manufacturer and marketer of high-quality foods and simple meals, including soup, baked snacks, and healthy beverages. Founded in 1869, the company has a portfolio of market-leading brands, including “Campbell’s,” “Pepperidge Farm,” “Arnott’s,” and “V8.” For more information on the company, visit Campbell’s website at www.campbellsoup.com.
This release contains "forward-looking statements" which reflect the company's expected future business and financial performance, including statements about future plans, strategies, opportunities and objectives of management; statements concerning expected development, market performance or consumption trends of new or reformulated products; statements concerning projections of sales, earnings or volume growth; and statements regarding assumptions underlying any of the foregoing. Forward-looking statements by their nature address matters that are uncertain and are subject to risks. These uncertainties may cause our actual results to vary materially from those expressed or implied in our forward-looking statements. Please refer to the company's most recent Form 10-K and subsequent filings for a further discussion of risks. The company disclaims any obligation to update its forward-looking statements.