Ferrero has acquired the Danish snack manufacturer Kelsen Group from Campbell Soup for €266,4 million.
With this acquisition, the Italian multinational aims to increase its relevance in the fine biscuit category.
Last year, the Kelsen Group had a turnover of €139,4 million. With around 400 employees, it owns the Royal Dansk and Kjeldsens butter biscuit brands. Its brands are sold in more than 100 countries and hold leading positions, especially in China, Hong Kong and the United States of America.
Ferrero is buying the brands and two factories in a deal expected to be finalized in the coming months, supporting Campbell Soup's strategy of focusing on the North American market, where it has " iconic brands and strong positions ," while simultaneously reducing its debt. According to Mark Clouse, CEO of the American multinational, the sale of the Kelsen Group separately from the rest of the international business generates the greatest possible value for Campbell Soup. " We are committed to selling the rest of our international operations and will continue to be disciplined as we progress ."
