CAMDEN, N.J.–(BUSINESS WIRE)–July 31, 2008–Campbell Soup
Company (NYSE:CPB) today announced it has entered into an agreement to
sell its Generale Condimentaire (GECO) business to Lesieur, a company
indirectly held by Sofiproteol, the financial arm of the French
Financial terms of the agreement were not disclosed.
The agreement is subject to the customary closing condition of
merger clearance. Closing is expected within the next few months.
Campbell’s GECO business comprises sauce and mayonnaise products
sold under the “Lesieur” brand in France and a manufacturing facility
in Dunkerque, France, which employs 102 people. The GECO business has
annual sales of approximately $70 million. Campbell currently licenses
the “Lesieur” name from Lesieur and makes annual payments for the use
of the brand.
Campbell will focus its business in France on growing its presence
in the simple meals category, particularly with its soup business
where it owns the market-leading “Liebig” soup brand. Campbell employs
400 people across its offices in Boulogne-Billancourt and its
manufacturing site in Le Pontet.
About Campbell Soup Company
Campbell Soup Company is a global manufacturer and marketer of
high-quality foods and simple meals, including soup, 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.” For more information on the company, visit
Campbell’s website at www.campbellsoup.com.
This release contains “forward-looking statements” which reflect
the company’s expected future business and financial performance,
including statements about future plans, strategies, opportunities and
objectives of management; statements concerning expected development,
market performance or consumption trends of new or reformulated
products; statements concerning projections of sales, earnings or
volume growth; and statements regarding assumptions underlying any of
the foregoing. Forward-looking statements by their nature address
matters that are uncertain and are subject to risks. These
uncertainties may cause our actual results to vary materially from
those expressed or implied in our forward-looking statements. Please
refer to the company’s most recent Form 10-K and subsequent filings
for a further discussion of risks. The company disclaims any
obligation to update its forward-looking statements.
CONTACT: Campbell Soup Company Anthony Sanzio (Media) 856-968-4390 or Leonard F. Griehs (Analysts) 856-342-6428 SOURCE: Campbell Soup Company