Campbell have entered into an agreement to acquire Kelsen Group A/S – a Danish company who have supplied butter cookies to the Chinese market for over twenty years.
The primary sweet biscuit brands of the Kelsen Group include Kjeldsens and Royal Dansk. Kelsen exports the biscuits to over 85 countries. In 2012, Kelsen had net sales of DKK 1.043 billion ($180 million).
In the last three years, Kelsen’s sales of sweet biscuits in the Chinese market have grown by 28%.
Denise Morrison, Campbell’s President and Chief Executive Officer, said:
“Kelsen will give Campbell a solid platform for growth in baked snacks in China and for the expansion of our international footprint. The acquisition of this successful business is another important step in Campbell’s quest to delight new consumers through expansion into higher-growth spaces, including fast-growing emerging markets.”
The terms of the deal were not disclosed. Luca Mignini, President of Campbell International, indicated that Campbell plans to operate Kelsen as a standalone business based in Denmark.