Campbell Soup to acquire Kelsen Group

Campbell Soup Company has announced that it has entered into an agreement to acquire Kelsen Group A/S from Maj Invest, a private equity firm, and several other investors. Based in Nørre Snede, Denmark, Kelsen is a producer of quality baked snacks that are sold in 85 countries around the world. Its primary brands include Kjeldsens and Royal Dansk.

Kelsen has established distribution networks in markets in Asia, South America, the Middle East and Africa as well as the United States. It is a market leader in the assortment segment of the sweet biscuits category in China and Hong Kong, where growth in sweet biscuits is outpacing the growth of the USD 60 bn global sweet biscuits market.

Kelsen has been exporting premium Danish butter cookies to China for more than twenty years. Its Kjeldsens brand has strong awareness with retailers and consumers in major cities, and its sales in China have grown at a compound rate exceeding 28% in the last three years. The company generated DKK 1.043 bn (USD 180 m) in net sales for the year ended Dec. 31, 2012. Aggregate net sales have grown at a compound double-digit rate since 2009. Kelsen employs 366 people worldwide.

www.campbellsoup.com