Campbell investing more in snacks and beverages
July 13, 2010
CAMDEN, N.J. — Driving sales growth in healthy beverages and baked snacks and improving sales growth in simple meals are among the strategies Campbell Soup Co. is using to ensure long-term growth.
“We have made great progress over the last five years, and we are winning in the workplace, in the marketplace and in the community,” said Douglas R. Conant, president and chief executive officer. “We believe in the power of being a focused food company and have sharpened our portfolio around three large and growing categories: healthy beverages, baked snacks and simple meals. I am confident that over time we can win in these categories by leveraging our leading brands, regional scale, world-class product technologies, financial strength and organizational excellence and vitality. We have clear strategies to drive our growth going forward.”
The company plans to drive sales growth in healthy beverages and baked snacks through increased innovation, including wellness and higher levels of marketing support. The company plans to improve sales growth in simple meals by expanding its global soup leadership position with regional business building efforts, stepped-up innovation and increasing emphasis on emerging markets for long-term growth. The company also plans to increase its focus on meal makers such as broth, sauces and cooking soups.
Future plans include launching three new varieties of V8 V-Fusion and some tea products. There also will be new V8 products such as sweet carrot juice and lower sodium spicy hot V8 juice.
Campbell intends to drive growth in fresh bread through premium innovation and a focus on health and wellness trends, and plans to boost innovation around meal occasions and attract new consumers by introducing new products such as premium sauces and concentrated broths. Campbell is repositioning its U.S. condensed soup line with enhanced ingredients, improved taste and further sodium reduction.