CapVest Partners-backed Valeo Foods, an international ambient foods producer and distributor, agreed to acquire the European chips business from Campbell Soup, an American processed food, and snack company, for £66m ($80m). The transaction is subject to customary closing conditions including the relevant regulatory approvals and consultation with employee representative bodies. Under the terms of the agreement, Campbell will retain the Kettle Brand business in the United States and all other geographies except for Europe and the Middle East.