CPB, Bolthouse Farms sold by Campbell Soup Company for $510 million Butterfly, a Los Angeles-based private equity firm specializing in the food sector, announced April 12 that it has signed a definitive agreement to acquire Bolthouse Farms from Campbell Soup Company (NYSE:CPB) for $510 million in cash, subject to customary purchase price adjustments. The deal is pending board approval, which could come as soon as this week, the person added. Historical and current end-of-day data provided by FACTSET. Data is a real-time snapshot *Data is delayed at least 15 minutes. Intraday data delayed at least 15 minutes or per exchange requirements. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. Bolthouse Farms sold by Campbell Soup for $510M Butterfly, a Los Angeles-based private equity firm specializing in the food sector, announced April 12 that it has signed a definitive agreement to acquire Bolthouse Farms from Campbell Soup Company (NYSE:CPB) for $510 million in cash, subject to customary purchase price adjustments. The fresh food industry, though, proved to be a poor fit for Campbell. Campbell is in advanced talks to sell Bolthouse Farms to an investor group led by former its former CEO Jeffrey Dunn, for roughly $500 million, a person familiar with the talks tells CNBC. Bolthouse Farms in late 2005, and since then the Bolthouse Foundation has reflected their giving decisions exclusively. No members of The Bolthouse Foundation have a financial interest in Bolthous… We want to hear from you. © 2020 CNBC LLC. All Rights Reserved. It is difficult as a public company to manage a fresh food business, which is subject to the whims of the weather, contrary to the predictability public investors demand. WATCH: How Campbell Soup fell off its perch. Campbell is selling its fresh food business, along with its international snack brands, to help pay down debt. That’s why we’re committed to creating healthier products that help people trade up from the alternative. Campbell Soup bought Bolthouse Farms in 2012 for $1.55 billion. Sign up for free newsletters and get more CNBC delivered to your inbox. 'No, I never considered it was risky, and no, of course, I’m not getting paid. A Division of NBCUniversal. Mr. and Mrs. William J. Bolthouse sold their interest in Wm. +0.24%, It bought the brand for $231 million in 2015. He led the brand while at Campbell, until leaving in 2016. The person requested anonymity because the information is confidential. 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