Troutman Pepper advised Campbell Soup Company in the sale of the Emerald nuts business to Flagstone Foods, one of the largest manufacturers and distributors of private label healthy snacks in North America. Read a company press release.
In 2018, Campbell acquired the Emerald nuts business as part of the Snyder’s-Lance, Inc. acquisition. The Emerald business generated net sales of $66 million in fiscal 2022 and $46 million for the nine-month period ended April 30, 2023. The company does not expect the divestiture to have a material impact to its fiscal 2023 financial results.
The Troutman Pepper team advising Campbell in the sale was led by Solomon Hunter and Courtney Goins and included Mateusz Saykiewicz, Madeline Reed, Sheri Adler, Deborah Enea, Todd Fracassi, Howard Goldberg, Mike Jones, and Majda Muhic.