Campbell Sells European Confectionery Business

Campbell Soup Co. (Camden, NJ) has sold its European confectionery and distribution business, Continental Sweets, to Gilde Buy-Out Fund, a Dutch venture capital firm and AXA Private Equity Fund. The sale is part of Campbell's plan to divest non-strategic businesses.

With production facilities in France and Belgium, Continental Sweets manufactures and distributes confectionery in Western Europe. Its brands include "Lamy Lutti" and "Leo." Products are also distributed in Holland and the UK.

In September 1996, Campbell said it would divest a number of non-strategic businesses over a two-year period as part of a strategic growth plan. Since that time, the company has divested six businesses, completed the spin off of its frozen food and condiment business, and acquired leading soup companies in Germany and France.

Gilde Buy-Out Fund, managed by Gilde Investment Management, purchased Campbell's Hamburg, Germany-based Beeck Feinkost GmbH chilled gourmet salad and deli products business in May 1997.

Edited by Pam Ahlberg