DUBLIN, IRELAND — The Valeo Foods Group, a consumer packaged goods company based in Ireland, has finalized its acquisition of the European chips business from the Campbell Soup Co., Camden, N.J., for approximately $80 million. The business includes Kettle Foods Ltd., which is based in the United Kingdom, and Yellow Chips B.V., which is based in The Netherlands.

Under terms of the agreement, Campbell Soup will retain the Kettle brand business in the United States and all other geographies except for Europe and the Middle East. Campbell Soup said it intends to grow the Kettle brand within its Snacks business unit portfolio.

Campbell Soup’s European chips business had sales of approximately $130 million in fiscal 2019.

Valeo Foods Group has operations in Ireland, the U.K. and continental Europe and annual sales of approximately $930 million. Products in the company’s portfolio include snacks, sweets, baking and meal ingredients, and beverages.

In shedding the European chips business Campbell Soup continues its trend of divesting many of its businesses outside the United States. In September, the company completed the sale of the Kelsen Group to an affiliate of the Ferrero Group for $300 million. Campbell Soup also has agreed to sell its Arnott’s snack business and its simple meals and shelf-stable beverages business, both of which are in Australia and Asia Pacific, to the private equity firm KKR & Co., Inc. for $2.2 billion.