Campbell Soup Company has agreed to acquire Danish snack company Kelsen Group A/S from private-equity firm Maj Invest and several other investors, for an undisclosed sum.
Kelsen, which had net sales of $180 million in 2012, makes Danish butter cookies and other snacks. Its primary brands include Kjeldsens and Royal Dansk.
Kelsen products are sold in in 85 countries in Asia, South America, the Middle East and Africa, as well as the U.S. It is one of the top sellers of sweet biscuits in China, where Campbell would like to gain a better foothold, noted Bloomberg Businessweek.
The deal will help Campbell expand its global snacks business, which includes brands such as Pepperidge Farm in the U.S. and Arnott's biscuits in Australia.
Campbell plans to operate Kelsen as a stand-alone business based in Denmark.