- 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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