Campbell Soup and activist fund Third Point reach agreement after proxy fight

USA – Campbell Soup and activist investor Dan Loeb’s Third Point have announced that they have reached an agreement that will give the hedge fund two seats on the company’s board and a role in the company’s search for a new chief executive. This will see Campbell increase its Board from 12 to 14 members…

Campbell Soup posts 25% rise in sales in Q1 boosted by acquisitions

USA – Campbell Soup reported US$2.69 million in net sales, a 25% increase in the first quarter ended Oct. 28, highlighting the benefit from the acquisitions of Snyder’s-Lance Inc. and Pacific Foods of Oregon. Net earnings were down 29% at US$194 million, from US$275 million, in the previous year’s first quarter while organic sales declined…

Campbell launches on-the-go Well Yes! Soups in the US market

USA – The American producer of canned soups Campbell’s has announced the launch of a new range of on-the-go, convenient soups, Well Yes! in the United States targeting health trend among consumers. The new products are available in convenient grab-and-go packaging, in five delicious flavours to provide healthier snack options for especially consumers with busy…

Campbell Soup appoints Craig Slavtchef as head of R&D organization

USA - Campbell Soup Company, an American producer of canned soups and related products, has announced the appointment of Craig Slavtcheff, 51, as Vice President and Head of Research and Development (R&D). According to the company, Slavtcheff will lead Campbell’s entire R&D organization, including strategy, innovation and product development for the company’s divisions, as well…

Campbell Soup announces plans to sell international fresh food businesses

USA - Campbell Soup Company, has announced significant actions to sell its international fresh food businesses to focus and improve the company’s portfolio, and that the proceeds will be used to significantly reduce debt. According to the company, it is selling its non-core businesses as part of its Board-led strategy and portfolio review to improve…

Campbell Soup’s CEO Denise Morrison retires abruptly

USA - US soup maker Campbell Soup has announced that its CEO Denise Morrison abruptly decided to step down effective today and she has been replaced by Keith McLoughlin, who joined the company's board in 2016, as CEO on an interim basis. In a statement Campbell Soup, maker of V8, Pepperidge Farm, Pop Secret and…

Campbell Soup announces strategic reorganization, appoints COO

USA - Campbell Soup has announced a strategic reorganization to capitalize on the rapidly changing food industry landscape while aligning the business to the company’s strategies. According to the company, the new structure reorganizes its core business operations -including its important soup, simple meals and shelf-stable beverages portfolios and its powerful snacks portfolio -under the…

Campbell announces dismal results in the second quarter, low sales blamed for Walmart woes

USA - Campbell Soup Company has announced a 7% drop in sales in its second quarter with low sales blamed for the dispute between the company and a key customer Walmart. Organic sales decreased 2% with a drop in Campbell’s shares due to a decrease in demand for Campbell soups. “This was a disappointing quarter,…

Campbell closes manufacturing facility in Canada, to move HQ

CANADA – Campbell Soup has closed down its manufacturing plant at Toronto with plans to move to Canadian Headquarters and its commercial operations to a new location in Greater Toronto Area. The plans to consolidate its operations were in alignment to its earlier strategy on promoting cost-saving strategies. The plant closure will affect 380 employees.…

Campbell Soup completes acquisition of Pacific Foods for US$700m

USA - Campbell Soup has announced its completion of the acquisition of Pacific Foods of Oregon (Pacific Foods) for US$700 million in cash, subject to customary purchase price adjustments. A leading producer of organic broth and soup, Pacific also produces shelf-stable plant-based beverages and other meals and sides. According to the company, organic food is…