In a deal expected to close in the calendar fourth quarter, Campbell Soup Co. has agreed to sell its European simple-meals businesses to private equity firm CVC Capital Partners for €400 million ($542.2 million). The sale will include the brands Liebig and Royco in France, BlaBand in Sweden, Erasco in Germany, Devos Lemmens and Royco in Belgium, and will also include four plants in Puurs, Belgium; Lubeck, Germany; Le Pontet, France, and Karpalund, Sweden. Campbell will continue to export Pepperidge Farm products to Europe and will sell Campbell products throughout the UK, Middle East and Africa and will not be selling its recently acquired Denmark-based Kelsen Group – a cookie company with strong ties in China. Campbell stock is up 17% so far in 2013 and the company plans to use the funds from this sale to pay down debt and for general corporate needs.
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