Campbell Soup to sell Godiva Chocolatier to Turkish Ulker Group

The U.S. food concern Campbell Soup Co. said Thursday it agreed to sell its Godiva Chocolatier business to Yildiz Holding AS, which is the owner of Turkish food company Ulker Group, for $850 m. Campbell said that after the deal closes, Godiva will become a part of the Ulker Group. Godiva has annual sales of about $500 m.


Campbell Soup said it expects the sale to close within the next several months. In August, Campbell announced it was exploring strategic alternatives for Godiva, including possible divestiture. At the time, Campbell indicated that Godiva did not fit with its strategic focus on simple meals, baked snacks ("Pepperidge Farm," "Arnott´s,"), and vegetable-based beverages.