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Campbell to acquire Kelsen Group

Campbell Soup Co., Camden, N.J., has entered into an agreement to acquire Kelsen Group A/S from Maj Invest, a private equity firm, and several other investors. Based in Nørre Snede, Denmark, Kelsen is a producer of quality baked snacks that are sold in 85 countries around the world. Its primary brands include Kjeldsens and Royal Dansk.

Kelsen has established distribution networks in markets in Asia, South America, the Middle East and Africa as well as the United States. It is a market leader in the assortment segment of the sweet biscuits category in China and Hong Kong, where growth in sweet biscuits is outpacing the growth of the $60 billion global sweet biscuits market.

Kelsen has established distribution networks in markets in Asia, South America, the Middle East and Africa as well as the United States. It is a market leader in the assortment segment of the sweet biscuits category in China and Hong Kong, where growth in sweet biscuits is outpacing the growth of the $60 billion global sweet biscuits market.

“We are delighted to welcome the Kelsen team to Campbell and to add Kelsen’s distinctive brands to Campbell’s outstanding portfolio of baked snacks, including our Pepperidge Farm cookies and crackers in North America and Arnott’s biscuits in Australia,” says Denise Morrison, Campbell’s president and CEO. “Kelsen will give Campbell a solid platform for growth in baked snacks in China and for the expansion of our international footprint. The acquisition of this successful business is another important step in Campbell’s quest to delight new consumers through expansion into higher-growth spaces, including fast-growing emerging markets.”

Campbell plans to operate Kelsen as a standalone business based in Denmark, reporting to Luca Mignini, president–Campbell International.

The terms of the transaction were not disclosed. Closing is subject to regulatory approvals and other customary conditions. Campbell expects the acquisition to be modestly accretive beginning in 2014.

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