Bloomberg Law
Aug. 30, 2018, 2:07 PM UTC

Campbell Soup to Sell Parts of Itself, Risking Activist Ire

  • Soup maker to divest international operations, fresh-food unit


  • Activists had hoped whole company would be on auction block

Campbell Soup Co. is divesting its international operations and fresh-food unit, falling short of expectations for a sale of the entire company.

Despite pressure from activist investor Dan Loeb to find a buyer amid a three-year sales slump and a sliding stock price, the struggling packaged-food maker will pursue a turnaround plan to ignite soup and snack growth in its key U.S. market, according to a statement Aug. 30. Campbell is also boosting its cost-cutting target as it tries to slim down. ...

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