Campbell Soup is selling its European potato chips business to an Irish company for $80 million, as part of an ongoing effort to acquire cash and sharpen its focus by divesting its international businesses.
The European business of Kettle and Yellow chips will be acquired by Valeo, a privately held food processor based in Dublin. Campbell will retain the Kettle and Yellow business for all regions outside Europe and the Middle East. The sale is expected to be finalized in Campbell’s current fiscal quarter.
The sale is the latest in a series of divestitures of Campbell’s international and fresh food businesses. The company recently reported a rise in sales for its 2019 fiscal year.
