Campbell Soup Co. (NYSE:CPB) announced that it has completed the acquisition of Kelsen Group A/S, a producer of quality baked snacks, including the Kjeldsens and Royal Dansk brands, sold in 85 countries around the world. Based in Nørre Snede, Denmark, Kelsen 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.
Campbell will operate Kelsen as a standalone business, reporting to Luca Mignini, president of Campbell International. Senior members of Kelsen’s management team, including Brian Rønsholdt, CEO of Kelsen Group, will continue to lead the business.
Mignini said, “We are excited to bring Kelsen’s talented team and distinctive brands to Campbell. The acquisition of Kelsen, with its strong brand awareness in China and Hong Kong, is an ideal complement to Campbell’s global baked snack businesses and a platform for additional growth for Campbell in key emerging markets.”