Campbell Soup Sells Emerald Nuts Business; Terms Not Known

(RTTNews) - Campbell Soup Company (CPB), a canned soup products company, said on Tuesday that it has sold Emerald nuts business to Flagstone Foods, a snacks maker. The financial terms of the deal have not been disclosed.

"The transaction is expected to be dilutive to earnings per share by approximately $0.01 in fiscal 2024, reflecting the timing of a transition service agreement and cost actions," the company said in a statement.

CPB added that it does not expect the transaction to have a material impact on its fiscal 2023 financial results.

For the nine-month period to April 30, the Emerald business has posted net sales of and $46 million.

For the fiscal 2022, Emerald business had generated net sales of $66 million.