Campbell completes Fresh divestiture with closing of Bolthouse Farms sale

Gabrielle Saulsbery//June 18, 2019//

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Campbell Soup Co. closed the sale of Bolthouse Farms to Los Angeles-based private equity firm Butterfly Equity for $510 million.

Campbell paid $1.55 billion for the brand in 2012 when it was trying to get into fresh foods, a faster-growing grocery area. However, Campbell ran into supply chain issues related to the “more complex world of handling fresh food,” reported the Wall Street Journal in April.

The sale of marks the completion of the divestiture of the Campbell Fresh division, which has been in the works since its board-led strategic plan was announced in August 2018. The company has since focused on its core soups business and its snacks arm.

Net proceeds from Campbell Fresh divestitures will be used to pay down debt.