CAMDEN, N.J.–(BUSINESS WIRE)–Feb. 26, 2007–Campbell Soup Company (NYSE:CPB) today announced its wholly owned subsidiary, Arnott’s Limited, has entered into an agreement to sell its Papua New Guinea operations to Goodman Fielder Limited.
In line with Campbell’s global strategy, the sale will allow Arnott’s to strengthen its focus on key growth markets in the Asia Pacific region including Australia, New Zealand, and Indonesia.
The sale, which is subject to regulatory approval and other pre-conditions, is anticipated to be completed within the next few months. Financial terms were not disclosed. The transaction is not expected to have a material financial impact on Campbell.
Arnott’s Papua New Guinea manufactures a range of biscuit, cereal, and noodle products under brands including “Paradise,” “Morobeen,” “Arrow,” and “Gold Nuggets.”
The sale includes two manufacturing plants and warehouses in Port Moresby and Lae.
About Campbell Soup Company
Campbell Soup Company is a global manufacturer and marketer of high quality simple meals, including soups, baked snacks, vegetable-based beverages, and premium chocolate products. Founded in 1869, the company has a portfolio of market-leading brands, including “Campbell’s,” “Pepperidge Farm,” “Arnott’s,” “V8,” and “Godiva.” For more information on the company, visit Campbell’s website at www.campbellsoupcompany.com.
CONTACT: Campbell Soup Company Anthony Sanzio (Media) (856) 968-4390 or Toni Callaghan (Media) 612-8767-7801 or Leonard F. Griehs (Analysts) (856) 342-6428 SOURCE: Campbell Soup Company
