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Sale of Campbell Fresh begins in Washington

Campbell Soup Co. has signed a definitive agreement for the sale of its Everett, WA, refrigerated soup plant to an affiliate of the Joshua Green Corp., a Seattle-based private investment company. Terms of the transaction were not disclosed.campb

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.