caret-down

Campbell Soup Company Acquires 1300 Admiral Wilson Boulevard in Camden

CAMDEN, N.J.–(BUSINESS WIRE)–Jun. 11, 2012–
Campbell Soup Company (NYSE:CPB) today announced it has
purchased 1300 Admiral Wilson Boulevard in Camden, from Camden Gateway
Properties, I, LLC. The 4-acre property includes the vacant Sears
building.

“The acquisition presents a great opportunity for Campbell, the State of
New Jersey and the County and City of Camden to realize the original
vision for the Gateway Office Park and help attract additional
development in the city,” said Richard Landers, Vice President Tax and
Real Estate, Campbell Soup Company. “We’ve always believed that this
parcel was critical to having a viable footprint for an office park in
the Gateway District.”

The purchase of 1300 Admiral Wilson Boulevard is another step in the
process of expanding the Gateway Redevelopment Plan which was announced
in February 2007. Campbell will continue to be the Master Redeveloper of
the office park and will work with state and local officials to attract
developers and other businesses to Camden.

Since 2007, Campbell has acquired several properties adjacent to its
headquarters. With the completion of this transaction, Campbell will
have purchased approximately 13 acres, all of which are planned to be
included in the proposed office park.

“This is great news for the City, Campbell and the region,” said Camden
Mayor Dana L. Redd. “Campbell’s acquisition of this property will clear
the way for future development in the Gateway Neighborhood and create
potential jobs in our City. My Administration will continue
collaborating with Campbell as we collectively strive to move Camden
forward and spur economic growth.”

Campbell plans to aggressively market the Gateway Office Park to
developers and tenants, Landers indicated.

“Campbell’s commitment has been so vital to the City of Camden’s
resurgence, and today’s announcement represents a significant milestone
in our ongoing revitalization efforts,” said Caren Franzini, Chief
Executive Officer of the New Jersey Economic Development Authority. “By
turning vacant and underutilized property into productive use, we will
be able to attract other companies to the city, increasing employment
and overall economic activity in the area.”

The Camden Redevelopment Agency (CRA) and Campbell have received
approval from both the City Planning Board and the New Jersey Department
of Environmental Protection (NJDEP) to raze the long-vacant Sears
building.

About Campbell Soup Company

Campbell Soup Company is a global 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” and “V8.” 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.campbellsoup.com

Source: Campbell Soup Company

Campbell Soup Company
Anthony Sanzio, 856-968-4390