Campbell to Divest Pasta Plant

Campbell Soup Company has entered into an agreement to sell its German Village Products pasta plant in Wauseon, Ohio, to Philadelphia Macaroni Company.

The deal includes the 65,000ft² manufacturing facility, land and assets, the company said.

Campbell expects the deal to be completed during the fourth quarter, which ends on 1 August 2010.

Financial terms of the agreement have not been disclosed.

Campbell also has entered into a long-term agreement with Philadelphia Macaroni to supply it with pasta products.

Under the terms of the agreement, Campbell will close the plant on or around 15 July.