Campbell Soup Sells Godiva for $850 Million

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.