[12 April/CNBC]

Campbell Soup announced that it is selling Bolthouse Farms for USD$510 million (approx. NZD$755 million) to an affiliate of private equity firm Butterfly Equity to help reduce debt. The deal is expected to be completed by July 2019, and once completed Campbell will have divested its entire fresh division. In February, it agreed to sell salsa maker Garden Fresh Gourmet to a unit of Fountain of Health USA, which makes hummus, dips and prepared salads. Campbell bought Bolthouse, known for its fruit juices and packaged carrots, in 2012 for about USD$1.55 billion (approx.NZD$2.2 billion). The transaction is not expected to impact the company’s fiscal 2019 forecast.