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Monday, Jun 17
Campbell (CPB) is acquiring Denmark's Kelsen Group, owner of the Kjeldsens and Royal Dansk baked...
Campbell (CPB) is acquiring Denmark's Kelsen Group, owner of the Kjeldsens and Royal Dansk baked snack brands (the latter is known to U.S. consumers for its butter cookies), from P-E firm Maj Invest for an undisclosed sum. Kelsen had 2012 sales of $180M, has been growing at a "compound double-digit rate" since '09, and has seen its Chinese sales grow at a 28% CAGR over the last 3 years. The deal will bolster a baked snack business that includes the Pepperidge Farm cookie/cracker brand, and the Arnotts Australian biscuit brand. It's expected to be "modestly accretive" starting in 2014.