Campbell Soup Company announced on November 12, 2024, an agreement to sell its noosa yoghurt business to Lakeview Farms, LLC, a manufacturer of fresh dips, desserts, and specialty products. The terms of the transaction were not disclosed by the company.
Campbell's had acquired the noosa business as part of its Sovos Brands, Inc. acquisition in March 2024, but stated its intention to evaluate strategic alternatives for the brand, as the yogurt category is not core to Campbell's strategy. The noosa business generated net sales of $177 million for the 12 months ending October 2024.
The divestiture is expected to be dilutive to earnings per share by approximately $0.01 in fiscal 2025, but Campbell's does not anticipate a material impact on its overall fiscal 2025 financial results. The closing of the transaction is subject to customary conditions, including regulatory approvals, and is expected in the first quarter of calendar year 2025.
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