Campbell's Soup to sell Godiva? (Wizbang Pop!)

Campbell Soup said on Thursday that it was exploring alternatives for Godiva Chocolatier that included selling it, and analysts said there could be many suitors for the well-known luxury brand.

The decision came as part of the company's review of its portfolio, which also includes Pepperidge Farms cookies and crackers and V8 vegetable juice.

"The premium chocolate business does not fit with Campbell's strategic focus on simple meals -- including soup -- baked snacks and vegetable-based beverages," Douglas R. Conant, Campbell's president and chief executive, said.

Analysts said Godiva could fetch more than $1 billion. It has annual sales of about $500 million out of Campbell's total of more than $7.3 billion.

[nyt]

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