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M&A Deal Summary

Campbell s Acquires Kelsen Group A/S

On June 17, 2013, Campbell s acquired food company Kelsen Group A/S from Maj Invest Equity

Acquisition Highlights
  • This is Campbell s’ 8th transaction in the Food sector.
  • This is Campbell s’ 1st transaction in Denmark.
Investment Fate
  • Kelsen Group A/S was divested to a consortium of strategic buyers in 2019 for 300M USD.

M&A Deal Summary
Date 2013-06-17
Target Kelsen Group A/S
Sector Food
Buyer(s) Campbell s
Sellers(s) Maj Invest Equity
Deal Type Add-on Acquisition
Advisor(s) Kromann Reumert (Legal)

Target

Kelsen Group A/S

Nr. Snede, Denmark
Kelsen Group A/S is a producer of quality baked snacks that are sold in 85 countries around the world. Kelsen Group A/S primary brands include Kjeldsens and Royal Dansk. Kelsen has established distribution networks in markets in Asia, South America, the Middle East, and Africa as well as the United States. Kelsen Group A/S 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.

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Buyer(S) 1

Buyer

Campbell s

Camden, New Jersey, United States
Category Company
Founded 1869
Sector Food
Employees14,400
Revenue 9.6B USD (2024)
DESCRIPTION
Entrance to Campbell Soup Co.'s corporate headquarters in Camden, New Jersey.
Entrance to Campbell Soup Co.'s corporate headquarters in Camden, New Jersey.

Campbell's is an American producer of canned soups and related products. Campbell's products are sold in 120 countries around the world. Campbell's was incorporated in 1869 and is based in Camden, New Jersey.

DEAL STATS #
Overall 9 of 14
Sector: Food M&A 8 of 13
Type: Add-on Acquisition M&A Deals 6 of 9
Country: Denmark M&A 1 of 1
Year: 2013 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-05-23 Plum Organics

Emeryville, California, United States

Plum Organics is a provider of premium, nutritious organic baby food, toddler and kid snack food products. Recognized for its unique culinary-inspired recipes and a modern approach to family nutrition, Plum offers a complete line of organic products that ensure healthy eating.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-10-01 Continental Foods Belgium NV

Puurs-Sint-Amands, Belgium

Continental Foods Belgium NV owns a portfolio of heritage consumer brands primarily in soups, sauces, and bouillons such as Devos Lemmens, Royco, Liebig, Déli Soup, Erasco, Blå Band, Touch of Taste and Lacroix. The company is headquartered in Belgium and has four manufacturing plants employing around 1,100 full-time employees.

Sell €400M

Seller(S) 1

SELLER

Maj Invest Equity

Copenhagen, Denmark

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2005
PE ASSETS 590M EUR
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Maj Invest Equity A/S (formerly LD Invest Equity) is the private equity investment arm of financial management firm Maj Invest Holding A/S (formerly LD Invest A/S). Maj invests in small-cap Danish businesses generating sales of EUR 13 to 130 million with proven business models and established market positions. Maj Invest Equity was formed in 2005 and is based in Copenhagen.

DEAL STATS #
Overall 21 of 50
Sector: Food M&A 2 of 4
Type: Add-on Acquisition M&A Deals 13 of 24
Country: Denmark M&A 21 of 50
Year: 2013 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-01-29 Reson A/S

Slangerup, Denmark

Reson A/S is a provider of underwater acoustic solutions. Company provide high quality standard tools for numerous underwater acoustic applications, budgets, and survey accuracy requirements. Company are devoted to design and manufacture of more specific marine technological solutions.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-02-03 Eurowrap A/S

Ringsted, Denmark

Eurowrap A/S is a supplier of gift packaging including gift wrap, gift bags, gift tags, bows and ribbon and other related products. The company has a production facility in Denmark and trading operations with in-house designing capabilities in the UK. Eurowrap's products are primarily sold to leading European retailers, mainly in the UK, Germany, and the Nordic countries.

Sell -
Mergr

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