- Stabilize and then profitably grow North America soup and simple meals;
- Expand the company’s international presence; and
- Continue to drive growth in healthy beverages and baked snacks.
Morrison noted that Campbell’s acquisition of Bolthouse Farms provides the foundation for a new platform to accelerate growth, with its market-leading positions in the super-premium beverages segment. “Bolthouse Farms gives us strong credentials in the packaged fresh category in the retail perimeter–a terrain much broader than beverages and salad dressings. We’ve identified some very compelling opportunities in this arena and we’re developing plans to pursue them,” said Morrison. Packaged fresh is a $12 billion category with a growth rate estimated to be six to seven percent–well ahead of the food industry average.Morrison also discussed international expansion and the pursuit of external development opportunities in priority markets in Asia and Latin America to increase capabilities and build scale. This included recently-announced agreements in Mexico with Grupo Jumex and Conservas La Costeña to expand access to production and distribution capabilities in that market for the company’s beverages, soups and sauces. “We know that it will take time, patience and fortitude to fulfill our strategic vision. We are under no illusions that this work will proceed in a straight line,” concluded Morrison. “The progress we’ve made in the past eighteen months has been highly gratifying.” Morrison shared these details with investors and the news media at the CAGNY conference today. A replay of the webcast of the presentation will be available at investor.campbellsoupcompany.com approximately two hours after the conclusion of the presentation. About Campbell Soup Company Campbell Soup Company is a manufacturer and marketer of high-quality foods and simple meals, including soup and sauces, baked snacks and healthy beverages. Founded in 1869, the company has a portfolio of market-leading brands, including “Campbell’s,” “Pepperidge Farm,” “Arnott’s” and “V8.” Through its corporate social responsibility program, the company strives to make a positive impact in the workplace, in the marketplace and in the communities in which it operates. Campbell is a member of the Standard & Poor's 500 and the Dow Jones Sustainability Indexes. For more information, visit www.campbellsoupcompany.com. Forward-Looking Statements This release contains “forward-looking statements” that reflect the company’s current expectations about the impact of its future plans and performance on sales, earnings, and margins. These forward-looking statements rely on a number of assumptions and estimates that could be inaccurate and which are subject to risks and uncertainties. The factors that could cause the company’s actual results to vary materially from those anticipated or expressed in any forward-looking statement include (1) the impact of strong competitive responses to the company’s efforts to leverage its brand power in the market; (2) the risks associated with trade and consumer acceptance of the company’s initiatives; (3) the company’s ability to realize projected cost savings and benefits; (4) the company’s ability to manage changes to its business processes; (5) the increased significance of certain of the company’s key trade customers; (6) the impact of fluctuations in the supply or costs of energy and raw and packaging materials; (7) the impact of portfolio changes, including the Bolthouse Farms acquisition; (8) the uncertainties of litigation; (9) the impact of changes in currency exchange rates, tax rates, interest rates, debt and equity markets, inflation rates, economic conditions and other external factors; (10) the impact of unforeseen business disruptions in one or more of the company’s markets due to political instability, civil disobedience, armed hostilities, natural disasters or other calamities; and (11) other factors described in the company’s most recent Form 10-K and subsequent Securities and Exchange Commission filings. The company disclaims any obligation or intent to update the forward-looking statements in order to reflect events or circumstances after the date of this release.