CAMDEN, N.J.–(BUSINESS WIRE)–May. 4, 2009–
Campbell Soup Company (NYSE:CPB) today announced it has completed
the acquisition of artisan bread maker Ecce Panis of East Brunswick,
N.J. Campbell announced the agreement on April 2, 2009. Campbell plans
to run the Ecce Panis business as part of its Pepperidge Farm bakery
Financial terms were not disclosed. Campbell anticipates the acquisition
will not have a material impact on fiscal 2009 earnings and will be
slightly accretive to earnings in fiscal 2010.
Founded in 1988 as a small Manhattan bakery, Ecce Panis has a premium
portfolio of hand crafted, stone baked artisan breads that are sold
primarily through the in-store bakeries of leading retailers and grocery
chains across the country. The par baked frozen breads and rolls are
shipped to customers where the baking process is finished within their
Ecce Panis has 115 employees and a state-of-the-art bakery operation in
East Brunswick which utilizes a unique baking technique to deliver
superior products. Campbell plans to operate Ecce Panis as a distinct
business unit within Pepperidge Farm.
The company appointed Ralph DiVito as General Manager of Ecce Panis. A
30-year veteran of Campbell and Pepperidge Farm, DiVito has held a
variety of roles in sales, operations and general management. He will
lead Ecce Panis through the integration with Pepperidge Farm and will be
responsible for establishing plans for future growth.
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” that reflect the
company’s current expectations about its future plans and performance,
including statements concerning the impact of marketing investments and
strategies, share repurchase, cost-saving initiatives, quality
improvements, and portfolio strategies, including acquisitions, 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. Actual results could vary
materially from those anticipated or expressed in any forward-looking
statement made by the company. Please refer to the company’s most recent
Form 10-K and subsequent filings for a further discussion of these risks
and uncertainties. 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.
Source: Campbell Soup Company
Campbell Soup CompanyAnthony Sanzio (Media)856-968-4390orLeonard
F. Griehs (Analysts)856-342-6428
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