Campbell Soup Sells Godiva (Published 2007) (2024)

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The Campbell Soup Company agreed on Thursday to sell its Godiva Chocolatier unit to Yildiz Holding of Turkey for $850 million.

The sale of Godiva, the iconic Belgian chocolate maker with $500 million in annual sales, ends a monthslong auction that included a cast of colorful suitors: Starbucks, Hershey’s, Wm. Wrigley Jr. as well as several private equity firms.

Campbell decided to sell Godiva, which it acquired in 1967 and built into a worldwide phenomenon, to focus more on it tradition business of soups and snacks, which are increasingly being marketed as part of a healthy lifestyle, one that chocolate does not fit.

The sale would help Campbell, which reported a 7.2 percent drop in fiscal first-quarter net income in November as a result of higher expenses, in part at Godiva.

Godiva will become part of the Ulker Group, which is owned by Yildiz.

“We are very pleased with the value we obtained for Godiva,” said Douglas R. Conant, Campbell’s chief executive. “The sale price reflects the strength of the Godiva business. Godiva is one of the world’s leading premium chocolate businesses and is an excellent strategic fit within Ulker’s portfolio.”

Ulker is the largest consumer goods company in the Turkish food industry.

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Campbell Soup Sells Godiva (Published 2007) (2024)

FAQs

Campbell Soup Sells Godiva (Published 2007)? ›

CAMDEN, N.J. March 18, 2008-Campbell Soup Company (NYSE: CPB) today announced it has completed the sale of its Godiva Chocolatier business to Yildiz Holding A.S. for $850 million. Campbell announced the agreement of sale on December 20, 2007.

How much did Godiva sell for? ›

In December 2007, Campbell announced that it entered into an agreement to sell Godiva to Yıldız Holding, which is based in Istanbul, Turkey, which is the owner of Ülker group and the largest consumer goods manufacturer in Turkey. The acquisition was completed in March 2008 for $850 million.

Why was Godiva sued? ›

Godiva didn't tell customers one of its dark chocolate products contains unsafe levels of lead, a new class action lawsuit alleges. Plaintiff Kamila Harkavy filed the class action lawsuit against Godiva Chocolatier Inc. on Jan. 10 in a California federal court, alleging violations of state and federal consumer laws.

What happened to Godiva chocolate? ›

Luxury chocolate-maker Godiva announced this week that the company will be shutting down all 128 of its U.S. and Canada stores by March due to in-person consumer habits completely changing by the pandemic, the chocolatier said in a statement.

What was the original name of Godiva chocolate? ›

THE GODIVA STORY BEGINS WITH PRALINE. This sweet mixture of finely ground almonds or hazelnuts and caramelised sugar was first married with chocolate in Belgium, to create what's now known worldwide as the classic Belgian Chocolate.

Is Godiva the most expensive chocolate in the world? ›

Named by Forbes Magazine as the most expensive chocolate in the world, Knipschildt's La Madeline au Truffe is the epitome of luxury in confectionery. La Madeline au Truffe is a culinary marvel, a symphony of carefully selected, high-quality ingredients.

Why is Godiva so expensive? ›

What makes Godiva known as such a premium confection is its high-quality ingredients and detailed production process, she said, and has nothing to do with where it is found. And, she added, the premium chocolate category posted a 16% growth rate, higher than the 10% growth the entire chocolate category is seeing.

Who is the new owner of Godiva? ›

pladis completes integration of GODIVA chocolates, with Steve Lesnard as president. Premium chocolate brand GODIVA joins the pladis portfolio of iconic brands after a process that started in 2023. Prior to its integration, GODIVA Company was acquired in 2008 by pladis' parent company, Yıldız Holding of Türkiye.

What is the Godiva controversy? ›

Godiva employee sparks controversy with derogatory comments amid typhoon. A scandal erupted in Taiwan when an employee at Godiva in Xinyi District, Taipei posted derogatory comments about customers, frustrated by having to work while many stores were temporarily shut down due to Typhoon Gaemi.

Is Godiva made in China? ›

We do not have a chocolate factory in China. Our first chocolatier Pierre Draps started to make the first pralines in Brussels in 1926 and today we are continuing to produce our chocolates in Brussels, Belgium and distributing the chocolates to more than 80 countries around the world.

What is the most expensive chocolate in the world? ›

Want to hear something mind-blowing…a single bar of chocolate weighing 1.76 ounces is $450! That's right. Four hundred and fifty dollars!

What's so special about Godiva chocolate? ›

Godiva chocolates are known for their exceptional quality and unique flavour combinations. Our secret? Creative chefs and quality ingredients. We're always seeking out new ideas.

Was there a real Lady Godiva? ›

While most historians consider her nude horseback ride a myth, Lady Godiva—or “Godgifu” as some sources call her—was indeed a real person from the 11th century. The historical Godiva was known for her generosity to the church, and along with Leofric, she helped found a Benedictine monastery in Coventry.

What happened to Godiva coffee? ›

Godiva is closing its U.S. cafes as part of a massive closure of its North American retail outlets, the company said late last week. The company will either close or sell all 128 locations by the end of March, including all of the company's U.S. locations.

How long do Godiva chocolates last? ›

Your GODIVA chocolate should be enjoyed before it reaches its best before date. You can find a best-before-date on each packaging of chocolate. All products ordered and delivered via online will have a minimum 2 weeks shelf life.

What is Godiva's net worth? ›

Godiva uploads a mukbang video titled “Massive Italian Feast Mukbang” which has over three million views at the moment. As of 2021, her net worth is estimated to be $1 million from $500,000 in the previous years.

Who is the CEO of Godiva chocolate? ›

Nurtaç Afridi is the CEO of GODIVA as well as the chief strategy and growth officer for Godiva's parent company, Yildiz Holding.

What is the revenue of Godiva chocolatier? ›

Godiva Chocolatier's annual revenue is $710.2M. Zippia's data science team found the following key financial metrics about Godiva Chocolatier after extensive research and analysis. Godiva Chocolatier has 2,200 employees, and the revenue per employee ratio is $322,818.

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