Soup maker buys tinned biscuit business
A British canned soup and food maker has snapped up a Scandinavian tinned biscuit business.
Campbell Soup Company has announced it has entered into an agreement to buy Kelsen Group from Maj Invest a private equity firm and several other investors.
Based in Denmark Kelsen is a producer of quality-baked snacks that are sold in 85 countries around the world, its primary brands include Kjeldsens and Royal Dansk.
Kelsen has established distribution networks in markets in Asia, South America, the Middle East and Africa as well as the United States.
It is a market leader in the assortment segment of the sweet biscuits category in China and Hong Kong, where growth in sweet biscuits is outpacing the growth of the $60 billion global sweet biscuits market.
The company generated DKK 1.043 billion (US$180 million) in net sales for the year ended December, 2012.
Denise Morrison, Campbell’s president and chief executive officer, said, “We are delighted to welcome the Kelsen team to Campbell.
“Kelsen will give Campbell a solid platform for growth in baked snacks in China and for the expansion of our international footprint.”
Brian Rønsholdt, chief executive of Kelsen Group, said, “We look forward to joining Campbell and its family of trusted brands.
“Campbell’s consumer-focused capabilities and wide-ranging experience in biscuit production will provide new resources for enhancing Kelsen’s product lines and strengthening our engagement with consumers around the world.”