Campbell sells Godiva Chocolatier for $850 Million
CAMDEN, N.J. Campbell Soup Co. announced the completion of the sale of Godiva Chocolatier to Yildiz Holding for $850 million. The sale began Dec. 20, 2007, Campbell says.
Campbell says its Board of Directors approved $600 million of the proceeds of the sale of Godiva to buy company stock in the open market.
It is reported that Godiva’s annual sales total about $500 million.
Campbell expects the sale to help earnings per share in fiscal 2008. Campbell Soup Co. currently owns the brands Arnott’s, Campbell’s, Pepperidge Farm and V8 brands.
Healthy salty snacks from New York Style to land on grocery shelves
CHICAGO Two new snack items have been released by snack brand New York Style: Focaccio Sticks and Pretzel Flats.
The snack maker is boasting that both Focaccio Sticks and Pretzel Flats are healhy snack alternatives that can be eaten straight from the bag, and each is the first of its kind to hit the market.
New York Style says the focaccio bread sticks are perfect for dips or with soups and salads. The Pretzel Flatz are baked in a triangular-shape to make them easy to dip, as well.
New York Style is also the creator of America’s Favorite Bagel Chips, Pita Chips and Crispini Mediterranean Snacking Crisps.
Kraft Foods names vice president of strategy
NORTHFIELD, Ill. Kraft Foods announced that Michael Osanloo will join the company as evp of strategy in mid-April. Osanloo will oversee Kraft’s portfolio strategy and assisting the business units in identifying strategic opportunities that will drive profitable growth.
Osanloo worked most recently at Harrah’s Entertainment, where he held a variety of senior strategic and marketing roles. Prior to that, he was a partner in the retail and consumer products practice at Bain & Company, where he helped improve the effectiveness of strategic, operational and marketing programs at various multibillion-dollar companies.
“Michael brings a terrific mix of planning and operating experience to this new role,” said Irene Rosenfeld, Kraft chairman and ceo. “As we implement our growth strategy, I’m confident that Michael’s expertise will help accelerate Kraft’s growth.”