Camden-based Campbell Soup Company has closed the sale of Bolthouse Farms to an affiliate of Butterfly Equity, a Los Angeles-based private equity firm, for a purchase price of $510 million, subject to customary adjustments.
The sale of Bolthouse Farms marks the completion of the divestiture of the Campbell Fresh division. Campbell previously announced the sales of Garden Fresh Gourmet and the company’s refrigerated soup business. Net proceeds from the divestitures will be used to pay down debt.
The company will continue to report the Campbell Fresh segment as discontinued operations when it announces fourth-quarter and full-year fiscal 2019 earnings on Aug.
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