February 26, 2019 / 10:42 PM / 5 months ago

Campbell to name Bolthouse, international unit buyers by July

FILE PHOTO: The logo and ticker for Campbell Soup Co. are displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., May 18, 2018. REUTERS/Brendan McDermid

CHICAGO (Reuters) - Campbell Soup Co said on Tuesday it expects to name buyers for Bolthouse Farms and its international business by the end of fiscal 2019.

Campbell, which ends its fiscal year in July, also said it plans to sell salsa maker Garden Fresh Gourmet to a unit of Fountain of Health USA, which makes hummus, dips and prepared salads. Terms of the deal were not disclosed.

Campbell’s fresh and international businesses have been on the block since August, when the Camden, New Jersey-based company said it would offload them as part of a months-long strategic review.

Bolthouse, the core of Campbell’s fresh refrigerated-foods business, has struggled in recent years, with issues ranging from farming missteps to the recall of 3.8 million bottles of protein shakes.

Sources told Reuters in December that Kraft Heinz Co and Mondelez International Inc were among those bidding for Campbell’s international business, which includes Australian cookie brand Arnott’s and Danish baked snacks maker Kelsen Group.

Reporting by Richa Naidu; Editing by James Dalgleish

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