9:44 a.m. Updated
The said on Monday that it would buy the food company Bolthouse Farms from the firm Madison Dearborn Partners for $1.55 billion in cash.
The deal,polo femme,sac pliage longchamp, the biggest in Campbell’s history,polo femme, will allow the food company to add to its beverage offerings. As soup sales have slowed,polo ralph lauren pas cher, the company has focused on augmenting its healthy offerings,ralph lauren pas cher, which are anchored by the V8 line of drinks.
Bolthouse’s products include fresh carrots and premium beverages, as well as refrigerated salad dressing. It also packages carrots for various private label brands.
“Bolthouse is a great strategic fit with Campbell,polo homme,” Denise M. Morrison, Campbell’s chief executive,ralph lauren italia,ralph lauren femme, said in a statement. “Its business platforms,louis vuitton outlet borse louis vuitton Thomson Reuters Contact Legal,polo, capabilities and culture are well aligned with the core growth strategies we announced last year.”
Campbell is only the latest company that is turning to mergers to bolster growth. Many of the deals that have been struck since the financial crisis have been so-called “add-on” transactions that augment existing businesses but generally do not lead to wholesale transformations of an industry.
Over the last year, Campbell has struggled to prop up its soup sales,polo homme, which have been hurt by commodity costs and changing consumer tastes. In May,borse chanel prezzi Gaz Metro Bests Fortis to Buy,sac longchamp,gucci outlet,polo ralph lauren, it reported that profit fell 5 percent after the prices of ingredients continued to rise, as did marketing costs.
The company said the Bolthouse acquisition would add about 5 to 7 cents a share in adjusted net earnings for its 2013 fiscal year.
Campbell added that,5.1 to 1,polo lacoste, excluding the deal’s costs, it expected sales growth for this fiscal year to come in near the low end of its previously disclosed forecast range of up to 2 percent. Adjusted earnings per share are expected to decline near the upper end of its previous guidance of 5 to 7 percent.
Bolthouse,ralph lauren pas cher This is a statistical projection, and, based in Bakersfield, Calif.,borse gucci prezzi, will continue to operate as a separate unit within Campbell and will still be run by its current management team, led by its chief executive,polo ralph lauren pas cher, Jeff Dunn. It was purchased by Madison Dearborn in October 2005.
Campbell said it planned to finance the deal by taking on additional debt. The transaction is expected to close later this summer.
Shares in Campbell declined .6 percent,chanel WELL - Hard Road For Those Who Seek Vegani, to $32.79. They have fallen 4 percent in the last year.
Campbell was advised by Morgan Stanley and Davis Polk & Wardwell,polo ralph lauren,polo ralph lauren pas cher,polo lacoste pas cher, while Bolthouse Farms was aided by Credit Suisse,louis vuitton borse,polo homme polo ralph lauren Guest post Michael Geismar’, Goldman Sachs and Kirkland & Ellis.