Campbell Closes Bolthouse Farms Sale, Completing Divestiture Of Fresh Division

Posted On: 6/18/2019

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CAMDEN, NJ -- Campbell Soup Co. has closed the sale of Bolthouse Farms to an affiliate of Butterfly Equity, a Los Angeles-based private-equity firm for $510 million.

Campbell paid $1.55 billion for the carrot and smoothie company in 2012. The sale of Bolthouse Farms marks its completion of the divestiture of the Campbell Fresh division. Campbell previously announced the sales of Garden Fresh Gourmet and the company's refrigerated soup business.

Net proceeds from the divestitures will be used to pay down debt. Campbell, last year borrowed heavily to acquire snack giant Snyder's-Lance and reported total debt of $9.28 billion at the end of its most recent quarter on April 28.