Campbell Completes Sale of Generale Condimentaire Condiment Business in France to Lesieur
Campbell Soup Company (NYSE: CPB) today announced it has completed the sale of its Generale Condimentaire (GECO) business to Lesieur, a company indirectly held by Sofiproteol, the financial arm of the French oilseed producer. Campbell announced the signing of the agreement on July 31, 2008. Financial terms of the sale were not disclosed.
The GECO business comprises sauce and mayonnaise products sold under the “Lesieur” brand in France and a manufacturing facility in Dunkerque, France, which employs 100 people. Campbell previously licensed the “Lesieur” name from Lesieur and made annual payments for the use of the brand.
Campbell will focus its business in France on driving growth in the simple meals category through its market-leading “Liebig” and “Royco” soup brands.
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