Denise Morrison, Campbell’s President and Chief Executive Officer, said, “Bolthouse is a great strategic fit with Campbell.
This estimate is subject to the finalization of the closing date and final closing balance sheet valuation.
The acquisition of Bolthouse Farms was not contemplated in Campbell’s previous guidance concerning its projected financial results for fiscal 2012.
The company said today that, excluding acquisition costs, it remains on track to deliver results consistent with that guidance, with fiscal 2012 sales growth expected to be near the low end of the previously forecast range of 0 to 2 percent; adjusted EBIT expected to decline at a level near the low end of the previously forecast range of 7 to 9 percent; and adjusted EPS expected to decline at a level near the upper end of the previously forecast range of 5 to 7 percent.
Morgan Stanley acted as the exclusive financial advisor to Campbell in this transaction.