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.