Ferrero acquires Kelsen Group
Ferrero-owned CTH Invest SA has agreed to acquire the Kelsen Group from Campbell Soup Co for USD 300m. Davis Polk & Wardwell and Plesner represented CTH Invest SA in connection with the acquisition.
Kelsen Group is known for its cookies which are produced in Nørre Snede and Ribe in Denmark and sold globally under various brands, including Kjeldsens and Royal Dansk.
Kelsen Group has 400 employees in Denmark and produces approximately 25,000 tons of cookies annually. Last year, Kelsen Group had net sales of approximately DKK 1bn.
The acquisition is subject to the relevant regulatory approvals.