The founder of Garden Fresh Gourmet is attempting to buy back the business from Campbell Soup Co., reports Crain's Detroit Business. Founder Jack Aronson and two other investors formed TriPower Capital LLC to bid on the company. It is reportedly among the final three under consideration to buy Garden Fresh.
Aronson heard that among the companies bidding on the business is an out-of-country interest that could move production out of Michigan and out of the U.S. "I worry that Garden Fresh could end up in the wrong hands, that it could be moved out of town. ... or that it could end up in the hands of a suitor ... with no salsa experience (who) will run it into the ground."
Campbell announced its plan to sell its international operations and fresh food businesses in August 2018 as part of a turnaround plan aimed at refocusing the company on snacks, meals and beverages. Full Story
Related: Campbell to Divest Fresh, International Businesses; Ferrero May Acquire Campbell's International.
from Specialty Food News http://bit.ly/2SuTAgj
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