Davis Polk is advising a Ferrero Affiliated Company on its acquisition of Kelsen Group A.S. from Campbell Soup Company. Kelsen Group A.S. generated sales of approximately $157 million in the latest 12 months. The closing of the transaction is subject to customary closing conditions and regulatory approvals.
CTH is a holding company affiliated to the Ferrero Group. Founded as a family business in Alba, Italy in 1946, the Ferrero Group is a company in the global chocolate confectionary market, with brands that include Nutella, Kinder, Ferrero Rocher and Tic Tac. Based in Nørre Snede, Denmark, Kelsen is the maker of fine cookie brands Royal Dansk and Kjeldsens, two widely-loved, prestigious brands with a deep Danish heritage and a strong global presence. Kelsen has established distribution networks globally and its cookies are sold in more than 100 countries around the world. Headquartered in Camden, New Jersey, the Campbell Soup Company, also known as just Campbell's, is an American producer of canned soups and related products that are sold in 120 countries around the world.
The Davis Polk corporate team includes partners Daniel Brass and John A. Bick and associates Sarah M. Weissman, Michael Senders and Soo Lim. The tax team includes partner David H. Schnabel and associate Aliza Slansky. The executive compensation team includes counsel David Mollo-Christensen. Partner Frank J. Azzopardi is providing intellectual property and technology advice. Partner Ronan P. Harty and associate Nathan Kiratzis are providing antitrust and competition advice. Counsel Betty Moy Huber is providing environmental advice. All members of the Davis Polk team are based in the New York office.