CAMDEN (dpa-AFX) - Campbell Soup Company (CPB) Monday announced the completed sale of the Pop Secret popcorn business to Our Home, an independent better-for-you snack company. Terms of the transaction were not disclosed.
The Pop Secret business generated net sales of around $120 million in fiscal 2024.
The company expects the deal to be dilutive to its fiscal 2025 earnings per share by around $0.04, reflecting the timing of a transition service agreement and cost actions.
Chris Foley, Executive Vice President and President, Campbell's Snacks said, 'This marks another step in our journey to strategically focus our Snacks portfolio. The sale of Pop Secret will drive greater focus and accelerated growth across our Snacks division and portfolio of leading brands.'
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