Campbell’s Announces Sale
Campbell’s has agreed to sell its noosa yoghurt brand to Lakeview Farms, a company known for making fresh dips and desserts. The deal terms have not been shared.
Background on the Deal
Campbell’s bought noosa as part of its purchase of Sovos Brands in March 2024. At that time, Campbell’s said it would look for options for the noosa brand because yogurt is not a core part of its business strategy.
Financial Impact
The noosa business made 7 million in sales over the past year up to October 2024. Campbell’s does not expect this sale to significantly impact its financial results for 2025. The sale may reduce earnings per share by about $0.01 for 2025.
Campbell’s Statement
Mick Beekhuizen, who leads Campbell’s Meals & Beverages division, said, “noosa is a strong business with a great team. We’re happy it will now be with a company that focuses on refrigerated products. This sale helps us focus on our main brands.”
Next Steps
The sale will be completed after standard regulatory approvals, expected by early 2025.
Goldman Sachs advised Campbell’s on the financial side, and Davis Polk & Wardwell LLP handled the legal work.
About Campbell’s
Campbell’s has been in business for over 150 years, known for its popular food and drinks. Headquartered in Camden, New Jersey, the company reported .6 billion in sales for 2024. Campbell’s brands include classics like Goldfish, Prego, Pepperidge Farm, and V8.
