 Campbell's soup tins were immortalised by the artist Andy Warhol |
Premier Foods, the owner of Branston Pickle, has agreed to buy the UK and Irish businesses of the Campbell Soup Company for �450m ($830m). Premier Foods said the purchase would give it control over well-known brands including Oxo, Batchelors, Homepride and Fray Bentos in the UK and Ireland.
Campbell Soup said earlier this year it was seeking to focus on its North America and international operations.
Premier Foods said it planned to continue its strategy of acquisitions.
Snug fit
"The Campbell's UK business fits Premier like a glove," said Robert Schofield, chief executive of Premier foods.
"This acquisition will bring an excellent portfolio of powerful and iconic brands which we intend to drive forward with increased resource and innovation," he added.
Premier Foods will finance most of the deal by selling new stock to shareholders.
The deal needs to be approved by Premier's shareholders and the company said it expected to complete the acquisition within the next few months.
One-Minute World News 
News services
E-mail this to a friend 
Printable version 
