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Campbell Soup Sells Godiva for $850 Million

AP
Thursday, 20 Dec 2007 | 5:47 PM ET

Food and soup maker Campbell Soup said Thursday it agreed to sell its Godiva Chocolatier business to Yildiz Holding, which is the owner of Turkish food company Ulker Group, for $850 million.

Campbell said that after the deal closes, Godiva will become a part of the Ulker Group. Godiva has annual sales of about $500 million.

The U.S. company, which was exploring strategic options for Godiva in August, said it expects the sale to close within the next several months.

Campbell shares rose 9 cents to $36.19 in electronic after-hours trading.

During regular hours, the shares fell 30 cents to close at $36.10.

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