Fried Frank acted as counsel to Goldman Sachs and Centerview Partners as financial advisors to Campbell Soup Company (Campbell) in its US$2.2 billion definitive agreement with KKR to sell Arnott's and certain segments of Campbell's International Operations. Under the terms of the agreement, Campbell and KKR will enter into a long-term licensing arrangement for the exclusive rights to use certain Campbell brands, including Campbell's, Swanson, V8, Prego, Chunky, and Campbell's Real Stock, in Australia, New Zealand, Malaysia, and other select markets in Asia, Europe, the Middle East, and Africa. The transaction is expected to close in the first half of fiscal 2020. Campbell Soup Company is an American producer of canned soups and related products. KKR is a global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate, and credit, with strategic partners that manage hedge funds.
The Fried Frank team was led by corporate partner Philip Richter and included corporate associate Roy Tannenbaum.