The company says net proceeds are expected to range between $305 million and $310 million, and upon closing of the transaction, the proceeds would be used to reduce the company’s debt.
Robert Garza, a former Campbell’s employee, released a recording in which Campbell’s CISO Martin Bally allegedly says the company’s products are for “poor people” and that they contain “bioengineered meat.”
The company says it is investing in its manufacturing sites, leveraging its network of leading co-manufacturing partners, and closing inefficient sites and shifting production to more modern and effective plants.
Cream of Chicken is made with chicken meat with no antibiotics and farm fresh cream, while Cream of Mushroom is made with mushrooms, garlic, farm fresh cream and no preservatives.