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News

Kraft Heinz to acquire Campbell soup?

02/07/2018 - François-Xavier Branthôme - Lire en français
Numerous newspaper articles recently referred to the news that Kraft Heinz, the makers of the renowned ketchup and macaroni & cheese, could soon decide to buy Campbell Soup. Kraft Heinz spokespersons have not responded to the media about the alleged interest of buying the soup company.

Campbell Soup businesses have not had a good year, due to the collapse of soups sales and because the investment they made (USD 6 billion, Synder’s Lance) has not given them the results they expected. The company said its forecast for the rest of the year was not as good as expected.

J.P. Morgan’s analysts explained that Campbell Soup faces numerous internal challenges and being acquired by Kraft Heinz would not solve its growth problems; they also said the purchase would be very positive for Kraft Heinz’s earnings per share and could serve its growth, providing “ammunition” to the ketchup maker for a larger transaction in the future.

Campbell Soup, founded in 1869, is a company valued at $ 11.6 billion. This year, the company’s shares have fallen close to 20%. Former executive director, Denise Morrison, suddenly withdrew from the company in May.

Source : International Press

 
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