US-based canned soup producer Campbell has signed a definitive agreement to sell its refrigerated soup plant in Everett, Washington, to an affiliate of the Joshua Green Corporation (JGC).
Financial details of the transaction have not been disclosed by both companies.
JGC is a Seattle-based private investment company, which invests in a range of assets including private companies, public equities and real estate.
The transaction is expected to be completed in the third quarter of fiscal 2019.
The 225,000ft² Everett facility includes Bolthouse Farms and Garden Fresh Gourmet.
Sale of the facility is reported to be in line with Campbell’s Board-led strategy and portfolio review, which was outlined in August.
The soup company is currently reported to be in the process of divesting its Campbell Fresh and Campbell International businesses in order to increase its focus, significantly reduce debt and strengthen its balance sheet.
Earlier this month, Healthcare company Viome signed an agreement to acquire personalised nutrition firm Habit from Campbell Soup Company for an undisclosed sum.
Established in 2015, Habit offers a whole-body approach, with an at-home test kit and individual nutrition plan identifying the right foods for the consumers. Campbell Soup has been Habit’s sole strategic investor and majority shareholder since the establishment of the company.
Viome intends to combine its personalised food recommendations based on insights from the microbiome with Habit’s nutrition plans and engagement tools to offer the first ‘whole-body’ approach to human health.
