Campbell Soup Co. is exploring a sale of the U.K. arm of its Kettle chips brand, according to U.K.-based news agency The Press Association.
The Press Association reported via Daily Mail Tuesday that Campbell hired Barclays to explore the sale of Kettle U.K., and that the brand could be worth between $65.5 million and $131 million.
Campbell will be retaining the U.S. arm of Kettle, the report said.
Kettle launched in 1978 and was acquired in 2010 by San Francisco-based Diamond Foods, which was then acquired by Synder’s-Lance in 2016. Campbell acquired Kettle as part of its March 2018 acquisition of Snyder’s-Lance. If the brand sells, it would mark the brand’s fourth owner in three years.
Camden-based soup maker Campbell has been incrementally divesting its non-core business since the completion of its board-led strategic review in August 2018. Most recently, the company announced the sale of fresh foods brand Bolthouse Farms in April for $510 million, completion of which is expected by the end of the year.
A Campbell spokesperson said the company does not comment on rumor or speculation.