Campbell Continues to Shift Portfolio Toward Faster-Growing Categories and Regions
Outlines Growth Plans Across Three New Divisions
Launches Initiative To Provide More Information About How Its Food Is Made
Announces Recipe Changes and Expanded Organic Products in Core Business
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Campbell continues to increase its focus on faster-growing categories, such as health and well-being and packaged fresh, while also innovating on its core business portfolio. (Photo: Business Wire)
Morrison said, “Campbell is taking unmistakable action to reshape our portfolio, redesign our organization and shift our investments so we can move more quickly to meet consumer needs. This approach holds the greatest promise for our company and our shareholders. From the reconfiguration of our portfolio and our focus on cost-savings to the way we connect with today's consumers, I’m confident that the steps we’ve taken, along with those that we plan to take, will set Campbell apart from other food companies.”
Providing Consumers with Information on How Campbell’s Food Is Made
Morrison and Americas Simple Meals and Beverages President
The site provides detail on several of Campbell’s top brands, such as
iconic Campbell’s Condensed Tomato and Chicken Noodle soups, Slow
Kettle Style and Healthy Request soups and Campbell’s
Dinner Sauces. Over the next year, Campbell will expand its efforts to
include all major brands in the U.S. and
“As we transform our marketing efforts and connect with consumers, we will continue to engage people in an open and authentic way to gain understanding about the ingredients and issues they care about,” said Morrison. “We believe it is the right thing to do for consumers, who have an increasing appetite and expectation for this type of candid discussion.”
Changing Recipes; Increasing Organic Offerings
Campbell is making several key changes to its recipes and outlined plans to increase its organic offerings.
Based on feedback from parents, the company will simplify the recipes of existing condensed soups for kids, removing ingredients such as added MSG and continuing to make the soup with no preservatives, no artificial colors and no artificial flavors. The first updated range of kids soups is expected to hit U.S. shelves in August.
Alexander said, “We know that many parents are seeking products made with simpler ingredients for their children. As a result, we are extending our line of kids soups with organic varieties and simplifying recipes to make them an easy choice for parents ˗˗ and fun for kids.”
The company plans to remove artificial colors and flavors from nearly
all of its North American products by the end of fiscal 2018.
Additionally, Campbell plans to move away from using high fructose corn
syrup in certain products, including the complete line of
To meet the growing demand for simple food, Campbell will increase its
organic offerings with line extensions in its core portfolio. Organic
food continues to grow strongly, with annual sales reaching
Alexander also outlined plans to expand the Plum line of organic food for babies, tots and kids. In fiscal 2016, Plum will launch GrowWell, a range of purees which provide nutrients from ingredients like chia, Greek yogurt and sunflower seed butter. Plum will also build on the successful Mighty range of snacks, introducing new Mighty Veggies and Mighty Sticks for tots on-the-go, and further develop its successful MashUps fruit sauce and snacks lines.
Expanding Biscuits and Snacks in Faster-growing Markets
Mignini also outlined how Campbell’s newly integrated Global Biscuits
and Snacks division will focus on building brands like Goldfish, Tim
Tam and Kjeldsens beyond their home markets and across new
geographic boundaries. Under the new divisional structure, the company
will be better positioned to drive growth by focusing on expanding these
brands in developing markets where it has a strong foothold, including
Campbell Fresh Expanding in the Grocery Store Perimeter
The Campbell Fresh division combines recently-acquired Garden Fresh
Gourmet with the
Dunn said, “We’re focused on driving full force growth to become the go-to resource for packaged fresh innovation throughout the perimeter of the store. We’re actively building our brands and capabilities to leverage the shift in consumer demand for ‘better-for-you’ products and to sustain growth in packaged fresh categories over the long term.”
Dunn also identified critical capabilities that Campbell Fresh will continue to build and invest in over the next few years to connect with the changing food consumer, including high engagement marketing tactics, fresh product innovation and incubation, best-in-class operating and supply chain platforms to support a broader portfolio, and deepened retail relationships.
A replay of the presentations to investors, along with accompanying slides, will be available at investor.campbellsoupcompany.com beginning a few hours after the completion of the event.
About
Campbell (NYSE:CPB) is driven and inspired by our Purpose, “Real food
that matters for life’s moments.” The company makes a range of
high-quality soups and simple meals, beverages, snacks and packaged
fresh foods. For generations, people have trusted Campbell to provide
authentic, flavorful and readily available foods and beverages that
connect them to each other, to warm memories, and to what’s important
today. Led by its iconic Campbell’s brand, the company’s
portfolio includes
Forward-Looking Statements
This release contains “forward-looking statements.” Forward-looking
statements can be identified by words such as “anticipates,” “intends,”
“plans,” “believes,” “estimates,” “expects” and similar references to
future periods. Examples of forward-looking statements include, but are
not limited to, statements we make on our product and marketing
strategies, and on our new enterprise and management
structure. Forward-looking statements are based on our current
expectations and assumptions regarding our business, our industry and
other future conditions. Forward-looking statements are subject to
inherent uncertainties, risks and changes in circumstances that are
difficult to predict. Our actual results may differ materially from
those contemplated by the forward-looking statements due to factors such
as our ability to manage organizational change effectively; our ability
to realize projected benefits and cost savings from the new structure
and our cost-savings initiatives; the impact of strong competitive
responses to our marketing strategies; risks associated with trade and
consumer acceptance of our new and improved products; the effectiveness
of our promotional programs; the impact of portfolio changes, and the
other factors described in “Risk Factors” in the company’s most recent
Form 10-K and in subsequent
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View source version on businesswire.com: http://www.businesswire.com/news/home/20150722006112/en/
Source:
Campbell Soup Company INVESTOR CONTACT: Jennifer Driscoll, 856-342-6081 jennifer_driscoll@campbellsoup.com or MEDIA CONTACT: Carla Burigatto, 856-342-3737 carla_burigatto@campbellsoup.com
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