Company Advances Wellness Focus with Tomato, Healthy Request and V8 Soups
CAMDEN, N.J., February 18, 2009 - Campbell Soup Company (NYSE: CPB) today announced further nutrition and wellness advancements for some of its best-selling soups as part of its commitment to provide great-tasting, lower sodium products throughout its portfolio. Several innovations planned for the 2010 soup season include:
Douglas R. Conant, Campbell's President and Chief Executive Officer said, "Campbell continues to expand our lower sodium soups and in the process we are lifting the entire category to new heights. Our innovations in soup are making a food that is already nourishing even better for consumers and more compelling for customers. This is especially important now as consumers are equally focused on eating well and trying to stretch their food budgets."
Great Tasting, Great for You
Campbell's Tomato soup, in the iconic red and white label, is one of the company's top- selling condensed soups and among the top-ten grocery items purchased each week. Introduced in 1897, Tomato is the first soup created by Campbell, and remains an American favorite-accounting for approximately 16 percent of Campbell's condensed soup volume. The soup's recipe remains largely the same as when it was first created, with slight modifications over the years. By adding lower sodium natural sea salt and leveraging its proprietary flavor enhancements, Campbell plans to bring the sodium content down 32 percent to the healthy level of sodium (defined by the U.S. government as 480 mg per serving) while maintaining the great Campbell's taste people have known and loved for generations. The soup will hit shelves in August 2009.
"Now the 25 million people who eat Campbell's Tomato soup at least once a week will have another reason to love it," said Denise Morrison, President, Campbell North America, Soup, Sauces and Beverages. "Next year when people enjoy a bowl of Tomato soup it will have the same great taste they have always loved, but it will be even better for them."
Focus on Heart Health
Campbell also announced that Campbell's Healthy Request soups, already recognized for their lower sodium benefit, will undergo further sodium reduction from 480 mg sodium to 410 mg sodium per serving.
All 25 Healthy Request soups, including condensed, Select Harvest Healthy Request and Chunky Healthy Request soups in cans and microwavable bowls, will display the American Heart Association (AHA) Heart Check mark. To display the symbol, products must be low in fat, trans fat, saturated fat, cholesterol, controlled for sodium and contain a good source of a positive nutrient, such as vitamin A.
Campbell's marketing efforts will focus on heart-healthy eating and new labels will underscore that positioning with a heart on the front of the package beginning in August. Promoting heart-healthy eating is consistent with Campbell's support of the AHA Go Red For Women movement. Campbell has donated more than $1.8 million to support the cause and showcase the importance of healthy eating to help prevent heart disease.
Campbell also will reduce the sodium content in all six Campbell's V8 soups to 480 mg sodium per serving, including a new Garden Vegetable Blend variety, which will be introduced in August. All Campbell's V8 soups provide a full serving of vegetables in every bowl and offer a convenient way for people to get more vegetables in their diets.
Campbell plans to remove MSG from its top-selling varieties of Swanson Broth, accounting for 70 percent of its broth volume, and introduce five new varieties to its MSG-free line of Campbell's Select Harvest soups, which feature a clean and simple label and contain no artificial flavors. Campbell also will introduce five new or reformulated "Light" versions of its condensed soups without added MSG.
With these new additions, the number of Campbell's soups and broths without added MSG is more than 130 products.
"Campbell offers more soups without MSG than any other company even makes soups," Morrison noted.
Commitment to Sodium Reduction
Campbell continues to offer an increasing number of healthy products as part of its commitment to lowering sodium across its portfolio. By Fall 2009, Campbell will offer more than 90 lower sodium soups in the United States. Beyond soup, Campbell has also introduced a variety of lower sodium products over the last three years, including:
Sodium reduction efforts extend beyond the U.S. as well, with significant advancements in Canada, Europe and in Campbell Arnott's in Australia.
Conant will share these and other plans with investors at the Consumer Analyst Group of New York (CAGNY) conference today at 10:30 a.m. EST.
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, new product introductions and innovation, quality improvements 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 risks associated with trade and consumer acceptance of the company's initiatives; (3) the company's ability to realize projected cost savings and benefits; (4) the company's ability to manage changes to its business processes; (5) the increased significance of certain of the company's key trade customers; (6) the impact of fluctuations in the supply or costs of energy and raw and packaging materials; (7) the risks associated with portfolio changes; (8) the uncertainties of litigation; (9) the impact of changes in currency exchange rates, tax rates, interest rates, debt and equity markets, inflation rates, economic conditions and other external factors; (10) 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 (11) 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.
Juli Mandel Sloves (Media)
Anthony Sanzio (Media)
Leonard F. Griehs (Analysts)