The Wall Street Journal originally reported on the sale late last week. Campbell gave confirmation on April 12 with a press release on the sale.
Completion is expected by the end of fiscal year 2019. Bolthouse Farms is the last brand left in the wheelhouse of its Campbell Fresh division, which the company has been strategically divesting in since its board-led review concluded last August.
Campbell Fresh recorded net sales of $970 million in 2018. Proceeds from the divestiture of the division’s businesses are expected to lessen the company’s debt by approximately $570 million, and are not expected to impact the company’s fiscal guidance.