Campbell Soup Company announced today that it has entered into an agreement to acquire Kelsen Group A/S from Maj Invest, a private equity firm, and several other investors.
Based in Norre Snede, Denmark, Kelsen is a producer of quality baked snacks that are sold in 85 countries around the world. Its primary brands include Kjeldsens and Royal Dansk.
It is a market leader in the assortment segment of the sweet biscuits category in China and Hong Kong, where growth in sweet biscuits is outpacing the growth of the $60 billion global sweet biscuits market.
Kelsen has been exporting premium Danish butter cookies to China for more than twenty years. Its Kjeldsens brand has strong awareness with retailers and consumers in major cities, and its sales in China have grown at a compound rate exceeding 28 percent in the last three years. Kelsen employs 366 people worldwide.
Denise Morrison, Campbell’s President and Chief Executive Officer, said, Kelsen will give Campbell a solid platform for growth in baked snacks in China and for the expansion of our international footprint.”
Campbell plans to operate Kelsen as a standalone business based in Denmark, reporting to Luca Mignini, President – Campbell International.