Campbell Soup Company (CPB) announced that it has entered into an agreement to acquire Kelsen Group A/S from Maj Invest, a private equity firm, and several other investors. The terms of the transaction were not disclosed.
Campbell said it expects the acquisition to be modestly accretive beginning in 2014.
Commenting on Kelsen, the company stated that it is Based in Nørre Snede, Denmark and it is a producer of quality baked snacks that are sold in 85 countries around the world. Its primary brands include Kjeldsens and Royal Dansk.
The company noted that Kelsen has been exporting premium Danish butter cookies to China for more than twenty years. Its Kjeldsens brand has strong awareness with retailers and consumers in major cities, and its sales in China have grown at a compound rate exceeding 28 percent in the last three years.
Campbell said it plans to operate Kelsen as a standalone business based in Denmark, reporting to Luca Mignini, President - Campbell International.
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