FILE PHOTO: The logo and ticker for Campbell Soup Co. are displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., May 18, 2018. REUTERS/Brendan McDermid/File Photo
(Reuters) – Campbell Soup Co said on Friday it would sell its Bolthouse Farms business to an affiliate of private equity firm Butterfly Equity for $510 million, in the U.S. food company’s first major sale as part of its plan to reduce debt.
With the completion of deal, expected by July 2019, Campbell will have divested its entire fresh division, it said. In February, it agreed to sell salsa maker Garden Fresh Gourmet to a unit of Fountain of Health USA, which makes hummus, dips and prepared salads.
Butterfly said its