CAMDEN, N.J.--(BUSINESS WIRE)--Campbell Soup Company (NYSE:CPB) announced today that it has signed a definitive agreement for the sale of its Everett, Washington, refrigerated soup plant to an affiliate of the Joshua Green Corporation (JGC), a Seattle-based private investment company. Terms of the transaction were not disclosed.
The 225,000 square-foot Everett facility is part of the Campbell Fresh division, which includes Bolthouse Farms and Garden Fresh Gourmet. As outlined in August 2018 as part of the company’s Board-led strategy and portfolio review, Campbell is in the process of divesting its Campbell Fresh and Campbell International businesses to increase the company’s focus, significantly reduce debt and strengthen its balance sheet.
The transaction is expected to close in the third quarter of fiscal 2019.
About Campbell Soup Company
Campbell (NYSE:CPB) is driven and inspired by our Purpose, "Real food that matters for life's moments." For generations, people have trusted Campbell to provide authentic, flavorful and affordable snacks, soups and simple meals, and beverages. Founded in 1869, Campbell has a heritage of giving back and acting as a good steward of the planet's natural resources. The company is a member of the Standard and Poor's 500 and the Dow Jones Sustainability Indexes. For more information, visit www.campbellsoupcompany.com or follow company news on Twitter via @CampbellSoupCo. To learn more about how we make our food and the choices behind the ingredients we use, visit www.whatsinmyfood.com.
About The Joshua Green Corporation
The Joshua Green Corporation (JGC) is a Seattle-based, privately-held investment company that invests in a diverse range of assets, including private companies, public equities and real estate. JGC has deep roots and a rich heritage in Washington State, dating back to the 1890s. For more information, visit www.joshuagreencorp.com.