M&A
confidence high
sentiment neutral
materiality 0.35
Campbell sells Emerald nuts to Flagstone Foods; minimal FY2023 impact, $0.01 dilutive to FY2024 EPS
CAMPBELL'S Co
- Emerald nuts sold to Flagstone Foods; terms not disclosed.
- Emerald had net sales of $66M in fiscal 2022 and $46M for nine months ended April 30, 2023.
- Company expects no material impact to fiscal 2023 financial results.
- Transaction expected to be dilutive to EPS by ~$0.01 in fiscal 2024 due to transition and cost actions.
- Sale part of strategic focus on Snacks power brands; acquired in 2018 Snyder's-Lance deal.