Campbell Soup to sell refrigerated soup plant in Washington to Joshua Green

Food processing news : Campbell Soup Company has agreed to sell its refrigerated soup plant in Everett, Washington to an affiliate of Seattle-based private investment company Joshua Green Corporation (JGC) for an undisclosed price.

The refrigerated soup plant, which spans 225,000sft is used by the Campbell Fresh division. It manufactures Bolthouse Farms’ portfolio of fresh carrots, carrot ingredients, refrigerated salad dressings and refrigerated beverages, and Garden Fresh Gourmet’s salsa, dips, hummus, and tortilla chips, and Campbell Soup Company’s US refrigerated soup business.

Campbell Soup Company said that as part of its strategy and portfolio review, it is in the process of selling its Campbell Fresh and Campbell International businesses to increase its focus, significantly bring down debt and boost its balance sheet.

The sale of the Campbell refrigerated soup plant is likely to be wrapped up in Q3 2019.