Campbell Soup Company has announced that it has signed a definitive agreement for the sale of its Everett, Washington, refrigerated soup plant to an affiliate of the Joshua Green Corporation (JGC).
Terms of the transaction were not disclosed, but it is expected to close in the third quarter of fiscal 2019.
Divesting
The Everett facility, 225,000 square feet, part of the Campbell Fresh division, which includes Bolthouse Farms and Garden Fresh Gourmet.
Campbell is currently in the process of divesting its Campbell Fresh and Campbell International businesses to increase the company’s focus, significantly reduce its debt and strengthen its balance sheet.
JGC is a Seattle-based, privately-held investment company that invests in a diverse range of assets, including private companies, public equities and real estate.
© 2019 Checkout – your source for the latest Irish retail news. Article by Aidan O’Sullivan. Click subscribe to sign up for the Checkout print edition.
