"Campbell Soup selling Godiva to Turkish company
(2007-12-20)
NEW YORK (Reuters) - Campbell Soup Co. said on Thursday it agreed to sell its Godiva Chocolatier business for $850 million to Yildiz Holding A.S.
Yildiz is the owner of the Ulker Group, a diversified food company based in Istanbul, Turkey. Campbell said the sale price represents a multiple of nearly 15 times earnings before interest, taxes, depreciation and appreciation (EBITDA)--a measure of cash flow."
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