US-based canned soup producer Campbell has signed a definitive agreement to sell its refrigerated soup plant in Everett, Washington, to an affiliate of the Joshua Green Corporation (JGC).

Financial details of the transaction have not been disclosed by both companies.

JGC is a Seattle-based private investment company, which invests in a range of assets including private companies, public equities and real estate.

The transaction is expected to be completed in the third quarter of fiscal 2019.

The 225,000ft² Everett facility includes Bolthouse Farms and Garden Fresh Gourmet.

“The 225,000ft² Everett facility includes Bolthouse Farms and Garden Fresh Gourmet.”

Sale of the facility is reported to be in line with Campbell’s Board-led strategy and portfolio review, which was outlined in August.

The soup company is currently reported to be in the process of divesting its Campbell Fresh and Campbell International businesses in order to increase its focus, significantly reduce debt and strengthen its balance sheet.

Earlier this month, Healthcare company Viome signed an agreement to acquire personalised nutrition firm Habit from Campbell Soup Company for an undisclosed sum.

Established in 2015, Habit offers a whole-body approach, with an at-home test kit and individual nutrition plan identifying the right foods for the consumers. Campbell Soup has been Habit’s sole strategic investor and majority shareholder since the establishment of the company.

Viome intends to combine its personalised food recommendations based on insights from the microbiome with Habit’s nutrition plans and engagement tools to offer the first ‘whole-body’ approach to human health.

Free Whitepaper How electronic inspection sensors prevented a potentially extremely costly product recall

A pharmaceutical client was at risk of a product recall due to a capping problem with a new tablet formulation. This document explains how DJA Pharma prevented a costly recall with a simple, elegant and effective solution.

Enter your details here to receive your free whitepaper.

Machinery whitepaper

Download our whitepaper

Yes I have read and accept the terms and conditions and privacy policys.

You are in control of the communications you receive from us and you can update your preferences anytime to make sure you are receiving information that matters to you. Please check our Verdict Privacy Policy to see how we protect and manage your submitted data.

You will receive your free whitepaper after you submit the form.