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Campbell to Launch More Than 200 New Products in Fiscal 2014

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CAMDEN, N.J.–(BUSINESS WIRE)–Jul. 24, 2013–
Campbell Soup Company (NYSE:CPB) expects to launch more than 200
new products in fiscal 2014 as the company strengthens its core
businesses and expands into higher-growth spaces, including new consumer
segments, categories and geographies, President and Chief Executive
Officer Denise Morrison and her management team said today at a meeting
with investors.

(Photo: Campbell Soup Company)

(Photo: Campbell Soup Company)

Reviewing Campbell’s growth and performance in fiscal 2013, Morrison
said, “We’ve grown our percentage of sales from both sustaining and
disruptive innovation, and we’ve multiplied the number of new
breakthrough ideas in the pipeline.”

To build on its momentum, Campbell is responding to the evolving tastes,
preferences and needs of both its core consumers and new consumers by
driving innovation across soup and simple meals, snacks and healthy

Soup and Simple Meals

Campbell plans to launch Campbell’s Homestyle soups, a new line
with “the taste that takes you home,” which will feature wholesome
ingredients like juicy strips of roasted white meat chicken, vegetables
with farm-fresh goodness and seasoned chicken stock. This delicious
product has no added preservatives and will be available in 29 varieties.

Campbell intends to build on the success of its Campbell’s Chunky
soup line, which delivered strong growth in the past year, with new
pub-inspired varieties, including Hearty Cheeseburger, Spicy Chicken
Quesadilla and Philly-Style Cheesesteak. These new flavors are designed
to further enhance the brand’s strong appeal to males with hearty
appetites who enjoy filling, ready-to-serve soup. With Green Bay Packers
linebacker Clay Matthews as the new star of its popular Mama’s Boy
advertising campaign, Campbell’s Chunky also plans to launch new
and improved recipes for some of its most popular varieties, including
New England Clam Chowder, Old-fashioned Vegetable Beef and Beef with
Country Vegetables.

Consumers can also expect a new Creamy Thai Style Chicken and Rice
variety of Campbell’s Go soups, a premium line of soups that
features microwaveable pouch packaging and bold, adventurous flavors, as
well as new varieties of Healthy Request and Campbell’s condensed

Creating a New Dinner Sauce Category

The introduction of Campbell’s Slow Cooker Sauces will expand the
company’s offerings in the dinner sauce category. Campbell’s Slow
Cooker Sauces will make it easy for consumers to prepare convenient
meals with their favorite meats in slow cookers, which are owned by more
than 80 percent of U.S. households and used to prepare nearly 500
million meals a year. To drive consumer awareness about this easy and
delicious dinner sauce, Campbell is partnering with CrockPot®,
a brand leader in slow cookers with almost half of the market share. Campbell’s
Slow Cooker Sauces will be available in six varieties, including
Apple Bourbon Barbecue and Tavern Style Pot Roast.

The launch of Campbell’s Slow Cooker Sauces builds on the
introduction of Campbell’s Skillet Sauces, which are
expanding in fiscal 2014 with two new varieties: Creamy Parmesan Chicken
and Sweet & Sour Chicken.

Mark Alexander, President – Campbell North America, said, “Together,
these innovative products are enabling Campbell to tap into the nearly
$200 billion dinner segment with consumer propositions that are unique,
delicious and convenient.”

For consumers who enjoy creative cooking, Campbell expects to introduce
a new line of Swanson flavor-infused broths featuring a selection
of culinary-inspired varieties such as Mexican Tortilla and Thai Ginger.

Pepperidge Farm Goldfish Expands Into New Territory

The iconic Goldfish brand continues to grow after more than 50
years. To expand its appeal, the company has launched Goldfish Puffs,
cheesy air-puffed baked snacks that have been created with teens in
mind. Goldfish Puffs are just 140 calories per serving and
gluten-free. Additionally, Goldfish crackers are expected to be
offered in new varieties inspired by Hispanic taste preferences,
including Salsa Con Queso, Fiesta Flavor Blasted and Kick It Up a

The company is also making a splash at mealtime with Pepperidge Farm
Goldfish Mac & Cheese, the brand’s first entry in the simple
meals category. Made with real cheese sauce, Goldfish Mac &
Cheese aims to delight children while making it easy for moms to serve a
quick and delicious simple meal or snack. Goldfish Mac & Cheese
will be available exclusively in Walmart stores nationwide.

To entice consumers with a sweet tooth and drive continued growth in Pepperidge
cookies, the company expects to launch two limited-edition
holiday varieties of Milano cookies: Chocolate-dipped Milano and
a Candy Cane Milano. Pepperidge Farm also plans to
continue to rotate seasonal varieties of its Dessert Shop
cookies, with Pumpkin Cheesecake and Caramel Apple varieties returning
this fall.

Irene Chang Britt, SVP – Global Baking and Snacking and President –
Pepperidge Farm said, “Our innovation plans are based on changes we are
seeing in the macro-snacking environment, where there’s been a
significant shift in people’s eating patterns. The number of people
snacking three to four times a day or more has risen substantially with
mini meals replacing traditional meal times. Pepperidge Farm has a broad
spectrum of products to meet these consumers’ needs – from sandwich
bread, rolls and baked crackers to sweet and indulgent treats.”

Getting Refreshed with V8 Juices

Campbell plans to introduce V8 V-Fusion Refreshers, a new
thirst-quenching juice cocktail that offers a crisper, cleaner taste. V8
Refreshers juice cocktails are expected to be
available in four delicious varieties, including Black Cherry Berry and
Cranberry Grape.

To drive growth in specialty beverages such as energy drinks and kids
juice boxes, Campbell is expanding its V8 V-Fusion + Energy beverage
range by introducing two new diet varieties: Diet Strawberry Lemonade
and Diet Cranberry Raspberry. Campbell is also rolling out new variety
packs of V8 V-Fusion juice drink boxes for kids as well as a new
grape variety. The planned launch of V8 Bloody Mary mix will
enable consumers to enjoy the great taste of V8 100% vegetable
juice as a mixer.

V8 Harvest juice will be the brand’s first entry in the
rapidly-growing $12 billion packaged fresh category. This fresh 100%
tomato vegetable juice was developed jointly by Campbell and Bolthouse
Farms, which became part of Campbell in August 2012. V8 Harvest
juice will be available in the refrigerated section of the retail store
perimeter, where a growing number of consumers are shopping for fresh
foods – particularly Millennials, a key demographic group for Campbell.

Campbell International

Luca Mignini, President – Campbell International, highlighted activities
around the world with a focus on Australia and China.

In Australia, Campbell is focused on growing its iconic Arnott’s
biscuit business, the company’s third-largest brand. In the upcoming
fiscal year, Campbell will build on the success of this year’s Tim Tam
Treat Packs, smaller-sized packages designed for “treating” occasions.
The company will also focus on building V8 juices down under,
where the brand has 90 percent awareness but only 12 percent household
penetration. Campbell plans to continue to introduce new flavors,
including a “light” V8 V-Fusion beverage and drive trial with
advertising and in-store activation. Finally, the company will meet the
home cooking trend with recipe development and advertising featuring an
Australian celebrity chef for its Real Stock brand.

In China, Mignini noted that the pending acquisition of Kelsen Group
will give Campbell a solid platform for growth in baked snacks.

About Campbell Soup Company

Campbell Soup Company is a manufacturer and marketer of high-quality
foods and simple meals, including soup and sauces, snacks and healthy
beverages. Founded in 1869, the company has a portfolio of
market-leading brands, including “Campbell’s,” “Pepperidge Farm,”
“Arnott’s,” “V8,” “Bolthouse Farms” and “Plum Organics.” 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
or follow company news on Twitter via @CampbellSoupCo.

Cautionary Note Regarding Forward-looking Statements

This release contains “forward-looking statements” that reflect the
company’s current expectations about the impact of its future plans and
performance 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. The factors
that could cause the company’s actual results to vary materially from
those anticipated or expressed in any forward-looking statement include
(1) the impact of strong competitive responses to the company’s efforts
to leverage its brand power in the market; (2) the impact of changes in
consumer demand for the company’s products; (3) the risks associated
with trade and consumer acceptance of the company’s initiatives; (4) the
company’s ability to realize projected cost savings and benefits; (5)
the company’s ability to manage changes to its business processes; (6)
the practices and increased significance of certain of the company’s key
trade customers; (7) the impact of fluctuations in the supply or costs
of energy and raw and packaging materials; (8) the impact of portfolio
changes, including the Plum Organics acquisition and the expected Kelsen
Group acquisition; (9) the uncertainties of litigation; (10) the impact
of changes in currency exchange rates, tax rates, interest rates, debt
and equity markets, inflation rates, economic conditions and other
external factors; (11) the impact of unforeseen business disruptions in
one or more of the company’s markets due to political instability, civil
disobedience, armed hostilities, natural disasters or other calamities;
and (12) other factors described in the company’s most recent Form 10-K
and subsequent Securities and Exchange Commission filings. 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 Company
Carla Burigatto (Media)
Jennifer Driscoll (Analysts/Investors)

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