Could Kraft Heinz make a move for Campbell Soup?

25 Jun 2018 --- According to the New York Post, Kraft Heinz is interested in buying Campbell Soup and expects a sales process to start soon. The soup and snacks company has said it planned to discuss the outcome of the review in late August.

Last month, Campbell Soup said it was reviewing all aspects of its strategic plans and portfolio composition and will have at least one deep-pocketed suitor interested in kicking the tires should it decide to put itself on the block.

General Mills could also be a possible Campbell Soup buyer, according to sources.

Campbell, owner of Bolthouse Farms, Goldfish, Pepperidge Farm, Prego and Swanson, stumbled when in March it completed a US$6.1 billion buyout of Snyder’s-Lance just as the consumer foods industry tanked.

Over the past six months, Campbell shares have fallen 21 percent, to US$38.60, as of last week.

Campbell CEO Denise Morrison retired in May, and a board director is now running the company on an interim basis.

“I won’t speculate on the outcome of the review, and as a matter of policy, we don’t comment on rumors or speculation,” a Campbell spokesman told the New York Post.

Last week, FoodIngredientsFirst reported that Kraft Heinz was sizing up the potential sale of children’s milk brand Complan in India, according to reports which claim a deal could be worth around US$1 billion.

Although there was no official comment from Kraft Heinz on a potential sale, Bloomberg sources have said that a deal could be on the cards as Kraft Heinz is working with an adviser to gauge interest in the brand from potential buyers.

There was also growing speculation that several potential bidders have held early talks regarding the sale of malted milk hot drink Horlicks with Coca-Cola reportedly leading the charge with a £3 billion (US$4 billion) bid in view. Other interested parties reportedly include Kraft Heinz and Nestlé.