Kraft interested in buying Campbell Soup
By Josh Kosman
June 22, 2018 | 10:49pm
Modal Trigger
Getty Images
There could soon be a line forming in front of Campbell’s HQ.
Campbell Soup, which last month said it was reviewing all aspects of its strategic plans and portfolio composition, will have at least one deep-pocketed suitor interested in kicking the tires should it decide to put itself on the block, The Post has learned.
The suitor, Kraft Heinz, is very much interested in buying Campbell — and believes the soup maker’s management will start a sales process soon, a source close to the situation said.
The soup and snack company said it planned to discuss the outcome of the review in late August.
“They will likely put itself up for sale,” the source said.
“It could be splitting or selling the company,” a banker said. “It has got to be something that is meaningful.”
General Mills is also seen as a possible Campbell buyer, sources said.
Campbell, owner of Bolthouse Farms, Goldfish, Pepperidge Farm, Prego and Swanson, stumbled when in March it completed a $6.1 billion buyout of Snyder’s-Lance just as the consumer foods industry tanked.
Over the last six months, Campbell shares have fallen 21 percent, to $38.60, as of Friday’s close.
Campbell CEO Denise Morrison retired May 18, and the company is being run by a board director on an interim basis.
“There should have been a lot of consolidation in the food category and there has not been,” the source said.
“I won’t speculate on the outcome of the review, and as a matter of policy, we don’t comment on rumors or speculation,” a Campbell spokesman said.
Kraft Heinz declined comment.
nypost.com
Bought back into CPB to day. It's a warm day today, but a foot of snow or more is coming tomorrow. IMO one thing that tastes good to warm you up is, a bowl of hot soup to warm you up. Most Savvy investors know who's the biggest owner of KO stock. It's the same person who help buy one big user of tomatoes in Heinz.
Message #4862 from richardred at 5/21/2018 9:45:32 AM
RE-CPB interim CEO say's Campbell's is not up for sale. Sure, I've heard that one before. Almost any company goes for the right price. IMO-It just means no one offered to by the whole company and you would need the Dorrance stamp of approval . After all, last week you just said everything is on the table. There's no scared cows.
| To: richardred who wrote (4819) | 5/18/2018 10:05:43 AM | | From: richardred | Read Replies (1) of 4894 | | | | Added to CPB on the drop this morning. IMO Eventually the interim CEO will be replaced with someone more in tune with today's food business. The appliance business just doesn't cut it IMO. GIS like Campbell's just added a big acquisition. I have little doubt Campbell's overpaid for Synder's/Lance. Did GIS overpay for Blue Buffalo. I think so. I'm thinking possible upside on a more new in tune CEO naming . IMO Someone like former CEO of WholeFoods Walter Robb would install some confidence in this company. An investment by W. Buffett would also help with confidence? He usually doesn't like poor performers, but he does take chances sometimes. Canned Soup stores well, so I'l have time to wait and see if thing are better in the colder fall season. There's alway's the possibility I'll have to throw it out before the expiration date. |
| To: richardred who wrote (3294) | 2/25/2018 12:27:27 PM | | From: richardred | of 4894 | | | Warren Buffett on CNBC Monday. He is allowed to buy CPB now, because I own it again. :+ )
GIS made a big move with Blue Buffalo pet foods.
| Message #3294 from richardred at 2/23/2013 12:05:59 PM | Read Replies (1) of 4793 |
| Glen: Some of my main past thoughts on this board reiterated on the piece. That's a fairly common ground for investors on the takeout speculation same page. Many of the food companies mentioned suffered on margins and earnings do to higher input cost for their raw materials. I agree that they are still targets. IMO they are fairly priced now based on my lower original buy points. Therefore my reason to sell CPB, GIS. However they still could go much higher. I also agree margins might expand, but think inflationary pressures eventually will lead to consumer revolt to lower priced competing brands. Hence the strive for them to introduce new products. I've noticed and still think portion control packaging will be a big area for margin expansion. The PCP also for growth and erosion prevention of old line brands. I'm looking for an opportunity to get back into (LABL- Multi-Color Corp) if conditions present themselves.
P.S. Buffet is not allow to buy CAG, CPB and GIS since I've now, sold them-<G> |
P.S.| To: richardred who wrote (4692) | 1/29/2018 9:16:48 AM | | From: richardred | of 4793 |
| Will Coke now make a move after JAB/Dr.PepperSnapple? Ironically Coke on the NYSE opening bell. Monster Beverage has been in the limelight for a possible KO acquisition. However the speculative appeal of CPB has gone up a notch now. Coke might be motivated as JAB owns consumer retail food restaurants. Pepsi spun off it's restaurant business (YUM Brands)as IMO it was a conflict of interest with it franchisees. Can anybody but me imagine what appeal impact a Campbell's soup kitchen restaurant concept might have? IMO lower consumer scale than Panera Bread. However plenty of healthier snacks to stock and offer. Soups and healthier beverages if this hypothetical could happen?
IMO Today's Coke- Earnings disappoint up the speculative appeal of LNCE. IMO Pepsi needs a strong competitor in salty snacks. They already have their hands on Monster & GMCR. Just maybe the need to swallow a pretzel? I can see Warren Buffett right now having a bowl of pretzels with his Coke at a bridge game. Message 31393995
Message 31393995
Message 29925351
Message 29373764 |
|
|
