Campbell spoons up Irish soup
largest dry soup business, Erin Foods, for about $26 million
(€26.1m) from the Greencore Group.
US soup giant Campbell Soup has agreed to purchase Ireland's second largest dry soup business, Erin Foods, for about $26 million (€26.1m) from the Greencore Group.
In a statement this week, Campbell Soup, which had sales of $6.66 billion in 2001, said that the acquisition will expand its European soup and sauces presence and strengthen its current market position in Ireland.
The company claims to be the leader in the total soup category in the UK, France, Germany and Sweden as a result of a multi-country European soup and sauces business acquisition from Anglo-Dutch company Unilever in May 2001.
Campbell Soup Campbell Soup's other brands in Ireland include McDonnells dry soup and sauces, Oxo bouillon, Homepride wet sauces and Campbell's wet soup.
The acquisition of Erin Foods, which also includes William Rodgers Foods, a private label supplier in the UK, is subject to Irish regulatory and other approvals.
In a separate statement, Greencore said it will use proceeds from the transaction to reduce debt.
