The Campbell Soup Company is looking into selling its Pop Secret microwave popcorn business, as per sources familiar with the situation. The convenience food maker, based in Camden, New Jersey, is collaborating with Bank of America to facilitate the sale process.
Campbell acquired Pop Secret as part of its acquisition of Snyder’s-Lance in 2017, in a deal that valued the Charlotte-based food company at USD 6.1 billion, including debt. Snyder’s-Lance’s brands, which include Snyder’s of Hanover pretzels and Cape Cod chips, became part of Campbell’s global biscuits and snack division following the acquisition.
This potential sale of Pop Secret comes as Campbell Soup Company continues to evaluate its portfolio and make strategic decisions to enhance its overall business operations.
More details on the sale process and the future of Pop Secret are yet to be revealed. Stay tuned for further updates on this developing story.
