Campbell to Sell European Delacre Biscuits Business

Campbell Soup Company (Camden, NJ) will sell its European-based biscuit business, Delacre, to United Biscuits (Holdings) PLC for $125 million in cash.

Delacre produces and sells biscuits in France, Belgium, the Netherlands and Germany, and exports to more than 50 countries around the world. United Biscuits, which includes the McVities Group, operates in 21 countries and is one of the UK's leading food groups.

Campbell will continue to focus on its two strategic biscuit and cracker businesses - Pepperidge Farm in the United States and Arnotts in Australia. Campbell completed 100% ownership of Arnotts in December 1997.

Since September 1996, Campbell has divested six non-strategic businesses and completed the spin-off of its frozen food and condiment business. Last week Campbell announced its intention to divest Fresh Start Bakeries, a global provider of bakery products to the foodservice channel.

Edited by Pam Ahlberg