Ferrero SpA is interested the international business of Campbell Soup Co. as Campbell seeks to divest and concentrate on core business, according to reports.
Reuters and an Italian newspaper report that Ferrero, the Italian maker of Nutella, is looking into acquiring Campbell’s international “biscuits and snacks” business, which includes cookie brands Arnott and Royal Dansk. Campbell started in August to divest some of its non-core businesses, including fresh foods and international brands.
The report comes on the heels of Campbell reaching an accommodation with Third Point, an investment firm that had pushed for a new board of directors. The board was expanded by two seats, which were offered to candidates aligned with Third Point.