Press release from Business Wire
Campbell Completes Acquisition of Plum Organics
Thursday, June 13, 2013
Campbell Completes Acquisition of Plum Organics16:54 EDT Thursday, June 13, 2013
CAMDEN, N.J. (Business Wire) -- 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.
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.
Campbell Soup Company
Carla Burigatto (Media)
Jennifer Driscoll (Analysts/Investors)