Campbell Soup Company announced that it has signed a definitive agreement for the sale of its Everett, Wash., refrigerated soup plant to an affiliate of the Joshua Green Corporation (JGC), a Seattle-based private investment company. Terms of the transaction were not disclosed.
The 225,000 square-foot Everett facility is part of the Campbell Fresh division, which includes Bolthouse Farms and Garden Fresh Gourmet. As outlined in August 2018 as part of the company’s Board-led strategy and portfolio review, Campbell is in the process of divesting its Campbell Fresh and Campbell International businesses to increase the company’s focus, significantly reduce debt and strengthen its balance sheet.
The transaction is expected to close in the third quarter of fiscal 2019.