Campbell and Joshua Green Corporation Sign Definitive Agreement for Sale of Campbell Fresh Plant
February 21 2019 - 4:30PM
Business Wire
Campbell Soup Company (NYSE:CPB) announced today 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), a Seattle-based private investment
company. Terms of the transaction were not disclosed.
The 225,000 square-foot Everett facility is part of the Campbell
Fresh division, which includes Bolthouse Farms and Garden Fresh
Gourmet. As outlined in August 2018 as part of the company’s
Board-led strategy and portfolio review, Campbell is in the process
of divesting its Campbell Fresh and Campbell International
businesses to increase the company’s focus, significantly reduce
debt and strengthen its balance sheet.
The transaction is expected to close in the third quarter of
fiscal 2019.
About Campbell Soup Company
Campbell (NYSE:CPB) is driven and inspired by our Purpose, "Real
food that matters for life's moments." For generations, people have
trusted Campbell to provide authentic, flavorful and affordable
snacks, soups and simple meals, and beverages. Founded in 1869,
Campbell has a heritage of giving back and acting as a good steward
of the planet's natural resources. The company is a member of the
Standard and Poor's 500 and the Dow Jones Sustainability Indexes.
For more information, visit www.campbellsoupcompany.com or follow
company news on Twitter via @CampbellSoupCo. To learn more about
how we make our food and the choices behind the ingredients we use,
visit www.whatsinmyfood.com.
About The Joshua Green Corporation
The Joshua Green Corporation (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. JGC has deep roots and a rich heritage in Washington State,
dating back to the 1890s. For more information, visit
www.joshuagreencorp.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20190221005963/en/
INVESTOR CONTACT:Ken Gosnell(856)
342-6081ken_gosnell@campbellsoup.com
MEDIA CONTACT:Thomas Hushen(856)
342-5227thomas_hushen@campbellsoup.com
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