Campbell seeks buyer for Godiva

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Campbell Soup is considering offloading its Godiva chocolate business, saying it does not fit with the rest of the firm's foods.

Godiva has done well for the firm, the firm said. But "the premium chocolate business does not fit with Campbell's strategic focus on simple meals."

The firm will examine "strategic alternatives, including possible divestiture" for Godiva Chocolatier.

Campbell has been trying to develop healthier soups and snacks.

"Godiva is one of the world's most recognized luxury brands and the business has been a strong performer for Campbell," said Douglas Conant, Campbell's chief executive officer at an investor conference.

But he said it did not work well with the firm's focus on soups, baked snacks, and vegetable-based beverages.

Like other food firms, Campbell's sales of soup have fallen, but in contrast its baked-goods, including crackers, have become increasingly popular.

Analyst Mitch Pinheiro with Montgomery Scott said money from the sale of Godiva - which Campbell has owned for 40 years - would help the firm with its plans to enter China and Russia.