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.