This morning, Campbell Soup (NYSE:CPB) announced it is selling its European simple meal operations to private equity firm CVC Capital Partners for approximately $542 million. The deal includes all of the major national brands for soups, sauces and other simple meals across France, Germany, Belgium and Sweden. Campbell noted that it intends to use the proceeds from the transaction to pay down debt and for other general corporate purposes. The deal is expected to close sometime in the fourth quarter. Shares of CPB were modestly higher on Tuesday, trading just below $41 per share.
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