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Campbell Completes Acquisition of Plum Organics

CAMDEN, N.J.–(BUSINESS WIRE)–Jun. 13, 2013–
Campbell Soup Company (NYSE:CPB) today announced that it has
completed the acquisition of Plum Organics, a leading provider of
premium, organic foods and snacks that serve the nutritional needs of
babies, toddlers and children. “Plum” is the No. 2 brand of organic baby
food in the United States and is currently the No. 4 baby food brand
overall. Plum Organics generated $93 million in gross sales for the year
ended Dec. 31, 2012.

Campbell will operate Plum as a standalone business within its Campbell
North America division. Senior members of Plum Organics’ management
team, including co-founder and president Neil Grimmer, will continue to
lead Plum and its mission-driven culture from its headquarters in
Emeryville, Calif. Grimmer will report to Mark Alexander,
President-Campbell North America.

Alexander said, “We are thrilled to welcome the ‘Plum’ brand, its people
and its quality products to Campbell. Plum is generating great success
in the marketplace, and we believe that Campbell’s resources will help
fuel further expansion of the ‘Plum’ brand within the fast-growing
premium, organic food segment.”

About Campbell Soup Company

Campbell Soup Company is a manufacturer and marketer of high-quality
foods and simple meals, including soup and sauces, baked snacks and
healthy beverages. Founded in 1869, the company has a portfolio of
market-leading brands, including “Campbell’s,” “Pepperidge Farm,”
“Arnott’s,” “V8” and “Bolthouse Farms.” Through its corporate social
responsibility program, the company strives to make a positive impact in
the workplace, in the marketplace and in the communities in which it
operates. Campbell is a member of the Standard & Poor’s 500 and the Dow
Jones Sustainability Indexes. For more information, visit www.campbellsoupcompany.com
and https://twitter.com/CampbellSoupCo.

About Plum Organics

Plum Organics® is a pioneer and a leading provider of
premium, nutritious organic baby food, toddler and kid snack food
products. Recognized for their unique, culinary-inspired recipes and a
modern approach to family nutrition, Plum offers a complete line of
organic products that ensure healthy eating from the highchair to the
lunchbox™
. Plum has dedicated its social mission to delivering
nutrient rich, organic food into the hands of little ones in need across
America. Forbes magazine named Plum #19 on its 2013 list of
“America’s Most Promising Companies.” For more information about Plum
please visit: http://www.plumorganics.com.

Forward-Looking Statements

This release contains “forward-looking statements.” Forward-looking
statements can be identified by words such as “anticipates,” “intends,”
“plans,” “believes,” “estimates,” “expects” and similar references to
future periods. Examples of forward-looking statements include, but are
not limited to, statements we make on the expected impact of the Plum,
Inc. acquisition. Forward-looking statements are based on our current
expectations and assumptions regarding our business, our industry and
other future conditions. Forward-looking statements are subject to
inherent uncertainties, risks and changes in circumstances that are
difficult to predict. Our actual results may differ materially from
those contemplated by the forward-looking statements. Important factors
that could cause actual results to differ materially from those in the
forward-looking statements include our ability to realize the
anticipated benefits from the Plum, Inc. acquisition and the other
factors described in the company’s most recent Form 10-K and subsequent
SEC filings. We undertake no obligation to update these statements to
reflect new information or future events.

Source: Campbell Soup Company

Campbell Soup Company
Carla Burigatto (Media)
(856) 342-3737
or
Jennifer
Driscoll (Analysts/Investors)
(856) 342-6081