Campbell Soup Company and Swire PacificForm Joint Venture in China - Campbell Soup Company (2024)

JV Designed to Accelerate Growth of Commercial Soup Market in China

CAMDEN, N.J., Jan 12, 2011 (BUSINESS WIRE) — Campbell Soup Company (NYSE: CPB) today announced that it has entered into an agreement to form a joint venture with Swire Pacific Ltd. to support the development of the company’s soup business in China. Called Campbell Swire, the new company will begin operations in early 2011. Campbell will have a 60-percent ownership stake in the joint venture, giving it a controlling interest. Profit and losses will be shared in proportions consistent with each party’s ownership.


China is now the world’s second largest economy and has one of the highest rates of per capita soup consumption in the world. Approximately 355 billion servings of soup are consumed in China annually–nearly all of them homemade.


Douglas R. Conant, Campbell’s President and CEO, said, “We continue to believe that developing a commercial soup market in China represents a tremendous business opportunity for our company. Realizing the benefit of such an opportunity requires a long-term commitment and the right strategic partner. Swire has been an effective distribution partner for Campbell since we launched our business in China in 2007, and we look forward to the next phase of our relationship together.”


The joint venture will be based in Campbell’s current offices in Shanghai and will be responsible for manufacturing, packaging, branding, marketing, selling and distributing soup, broth and stock products in China. Campbell will retain ownership of Campbell brands and recipes and license those to the joint venture.


Christopher Pratt, Chairman, Swire Pacific Ltd, said, “The consumption of soup is an integral part of Chinese dining culture and its commercialization has exciting potential which we believe this new partnership can realize. Campbell as a global leader in the marketing and manufacturing of soup, together with Swire Pacific’s long experience of sales and distribution in China, will bring the right attributes to develop this market opportunity.”


Campbell Swire will be led by Peter Foyston, 47, who joined Campbell in 2009 and is currently General Manager Campbell Soup Greater China.


Mark Alexander, President – Campbell International, said, “We’ve made great strides in understanding the market and refining our products to appeal to Chinese consumers. This partnership will help unlock the potential of the commercial soup market in China by pairing Campbell’s brands, recipes and consumer insights with Swire’s sales force, logistics capabilities and overall market knowledge.”


Campbell launched its business in China in Oct. 2007 in Guangdong province and expanded to Shanghai in Nov. 2008.


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.


About Swire Pacific Ltd.


Swire Pacific Limited is one of Hong Kong’s leading listed companies, with diversified interests in five operating divisions: Property, Aviation, Beverages, Marine Services and Trading & Industrial. The Company’s operations are predominantly based in the Greater China region, where the name Swire has been established for over 140 years. Swire Pacific focuses on long-term sustainable growth underpinned by a strong financial base. Its attributable profit in 2009 was HK$19,917 million and employs over 75,000 staff worldwide. For more information, visit www.swirepacific.com


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 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 impact of 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 circ*mstances after the date of this release.


SOURCE: Campbell Soup Company


Campbell Soup Company
Anthony Sanzio (Media)
(856) 968-4390
or
Jennifer Driscoll (Analysts/Investors)
(856) 342-6081

Campbell Soup Company and Swire PacificForm Joint Venture in China - Campbell Soup Company (2024)

FAQs

Does China own Campbell soup? ›

Campbell Soup Company, doing business as Campbell's, is an American company, most closely associated with its flagship canned soup products; however, through mergers and acquisitions, it has grown to become one of the largest processed food companies in the U.S. with a wide variety of products under its flagship ...

What is the Campbell Soup Company scandal? ›

CAMDEN – A class-action lawsuit has accused Campbell Soup Co. of concealing the presence of heavy metals in baby foods marketed by its Plum brand. Claims against the food company could exceed more than $5 million, says the suit, which describes Plum's organic baby foods as “tainted” with “toxic heavy metals.”

What companies are owned by Campbell soup? ›

Campbell's product portfolio includes food brands such as Pepperidge Farm, Goldfish, V8, Bolt House Farms, Swanson Broths, as well as Prego and Pace.

Who is Campbell's owned by? ›

Image of Who is Campbell's owned by?
Mary Alice Dorrance Malone is an American billionaire and heiress to the Campbell Soup Company fortune.
Wikipedia

Who are the major shareholders of Campbell soup? ›

Campbell Soup is not owned by hedge funds. Mary Alice Malone is currently the largest shareholder, with 18% of shares outstanding. Meanwhile, the second and third largest shareholders, hold 15% and 7.9%, of the shares outstanding, respectively.

What soup originated in China? ›

The soup culture in China has a very long history. As early as more than 2,700 years ago, there were more than ten soups appeared in the recipes. According to the textual research by the historians, the earliest history of drinking soup was not in China.

Why is Campbell's soup cans controversial? ›

When the 32 Campbell's Soup Cans were first exhibited, they were mocked. Taken at face value, all they represented to most was the 32 different soup flavors that Campbell's sold at the time. No one seemed to notice that their display closely resembled the shelves of groceries stores lined up with products.

Is Campbell's soup closing down? ›

Campbell Soup Co has unveiled plans to close its snacks division offices in Charlotte, NC, and Norwalk, CT and consolidate operations at its HQ in Camden, NJ, which will benefit from $50m of investment over the next three years.

Is Campbell's soup made in the USA? ›

Campbell Soup Company, American manufacturer, incorporated in 1922 but dating to a canning firm first established in 1869, that is the world's largest producer of soup.

Does Campbell own Progresso? ›

Progresso, a brand of General Mills, is an American food company that produces canned soups, canned beans, broths, chili, and other food products.
...
Progresso.
Progresso logo
IndustryFood processing
ParentGeneral Mills
2 more rows

Where is Progresso soup made? ›

The company expanded its offerings to olive oil, roasted peppers, anchovies and other authentic Italian ingredients. During World War II, when importing goods from Europe became difficult, Progresso started canning and bottling foods domestically. In 1942, the business bought a factory in Vineland, New Jersey.

Who owns Progresso soup? ›

Progresso joined General Mills in 1969 and has continued to deliver homestyle soups and Italian ingredients to families across the nation.

Who is bigger Heinz or Campbells? ›

Campbell Soup Company's brand is ranked #190 in the list of Global Top 1000 Brands, as rated by customers of Campbell Soup Company. Their current market cap is $14.03B. The Kraft Heinz Company's brand is ranked #203 in the list of Global Top 1000 Brands, as rated by customers of The Kraft Heinz Company.

Does Heinz own Campbell? ›

Kraft Heinz has reportedly passed on buying the Camden, N.J.-based Campbell Soup Co., which is in its own proxy battle with hedge fund Third Point to hold on to its board of directors.

Are Campbells and goldfish owned by the same company? ›

Goldfish are fish-shaped crackers with a small imprint of an eye and a smile manufactured by Pepperidge Farm, which is a division of the Campbell Soup Company.

Is Campbell soup in debt? ›

Campbell Soup long term debt from 2010 to 2023. Long term debt can be defined as the sum of all long term debt fields. Campbell Soup long term debt for the quarter ending January 31, 2023 was $3.992B, a 12.55% decline year-over-year. Campbell Soup long term debt for 2022 was $3.996B, a 20.24% decline from 2021.

Is Campbell's soup a Fortune 500 company? ›

The company is no longer quite so huge compared to its peers; in 2016 Campbell was ranked 337th. But it's still one of the bigger food companies in the country, and it has been on the Fortune 500 ever since that first issue.

Where is Campbell's soup headquarters? ›

Image of Where is Campbell's soup headquarters?
Camden is a city in and the county seat of Camden County, in the U.S. state of New Jersey. Camden is part of the Delaware Valley and is located directly across the Delaware River from Philadelphia, the nation's sixth most populous city.
Wikipedia

What is the most popular soup in China? ›

Wonton Soup (China)

One of the most famous soups in the country is Wonton Soup, originally from the Canton region. In this dish, a very fine dough made with flour and eggs, called wonton, is cooked in a spicy broth with vegetables and meat.

Why do Chinese eat so much soup? ›

Many soups are eaten and drunk as much for their flavour as for their health benefits and touted for their purported revitalizing or invigorating effects.

What is the most common Chinese soup? ›

Wonton soup is the quintessential Chinese soup on all American Chinese restaurant menus, but this Shanghai wonton soup is so easy to make at home that you'll be able to make these in the morning and still have plenty of time to hang out on the couch on a snow day!

What soup is Campbell's discontinuing? ›

Recipes, meal planning ideas and more. Campbell stopped producing their soup products, and among them, they discontinued Campbell's Pepper Pot Soup, Black Bean Soup, Chicken Gumbo Soup, Campbell's Chunky Philly-Style Cheesesteak Soup, and Campbell Scotch Broth Soup.

What makes canned soup unhealthy? ›

Here's why: Canned soups are often loaded with sodium, extra fat, and calories. Healthline warns canned soups use a lot of thickeners — like corn starch, heavy cream, egg yolks, and full-fat milk — which can be problematic due to the added calories and saturated fats, the latter of which can be linked to heart disease.

What is the oldest can of Campbell's soup? ›

1895. First jar of ready-to-eat soup, Beefsteak Tomato, is introduced. New Jersey Beefsteak tomatoes had been our signature product for over 25 years, featured prominently on our labels and first trademark.

Why is there a shortage of Campbell's soup? ›

Campbell is one of many CPGs that has grappled with volatile operating conditions this year, including a tight labor market and soaring inflation. The food and snack company began facing supply constraints in 2020, as the company struggled to meet heightened demand.

Is Campbell's stopping production? ›

13, 2021 – Campbell Soup Company (NYSE: CPB) today announced plans to close its manufacturing facility in Columbus, Georgia by Spring 2022. The plant currently employs 326 individuals in the production of candy, crackers, cookies, nuts and bars.

When did Campbell's stop making ketchup? ›

Ketchup was a main product Campbell featured until it decided to produce only soup in 1914. An Andy Warhol painting on display in the board room at the Campbell Soup Company in Camden. An Andy Warhol print of his iconic Campbell's Soup can hangs in the company's boardroom in its world headquarter in Camden.

Is the chicken in Campbell's soup real? ›

Most of the chicken-y flavor in Campbell's soup is from the heavily salted chicken broth, so there's no need for the company to include much meat in there, which you've already noticed as you quested about your soup bowl in search of microscopic chicken bits.

Are Campbell's soup cans made out of aluminum? ›

OUR PACKAGING AND BPA

Campbell has transitioned to non-BPA lining in all of our aluminum and steel cans in the United States and Canada.

Is Campbell soup in Russia? ›

After four years in Russia, iconic American soupmaker Campbell announced that it is giving up. "Though Russia remains an attractive potential growth market, the results of the business have fallen short of original expectations," Campbell spokesman Anthony Sanzio told The Moscow Times.

Did Campbell's make ketchup? ›

The Campbell Soup Company was originally founded as the Joseph A. Campbell Preserve Company in 1869. In the 1870s, the company started to market its new Beefsteak Tomato Ketchup.

Which is the largest brand in the soup market? ›

Top Players in the Soup Market
  • B&G Foods Inc.
  • Baxters Food Group Limited.
  • Blount Fine Foods.
  • Campbell Soup Company.
  • Conagra Brands Inc.
  • General Mills.
  • Nestle SA.
  • The Kraft Heinz Company.
Jan 18, 2022

Are Campbells and Pepperidge Farm the same company? ›

Campbell Soup Company, one of the largest and most highly respected food companies in North America, acquires Pepperidge Farm in 1961.

Who makes soup for Panera? ›

Blount Fine Foods, formerly Blount Seafood, is a prepared foods and soup manufacturer that produces wholesale frozen and fresh soups under the Blount brand as well as Panera Bread and Legal Sea Foods. Blount Fine Foods is headquartered in Fall River, Massachusetts with a production facility in Warren, Rhode Island.

Is the chicken in Progresso soup real? ›

All Progresso soups featuring chicken are made with white meat with no antibiotics or hormones* added ever. *Federal regulation prohibits the use of hormones in poultry.

Why is Progresso chicken soup being recalled? ›

Recall alert: Mislabeled Progresso soup cans recalled over misbranding, allergen concerns. Some cans of Progresso Organic Chicken Noodle Soup traced to a Minnesota company are being recalled due to a mislabeling issue that could expose consumers to allergens, not to mention an entirely different product.

Why is Progresso so good? ›

Progresso soups' delicious flavors comes from high quality ingredients and are produced with zero grams of trans-fat and no partially hydrogenated oil or high fructose corn syrup. While some MSG occurs naturally in ingredients like tomato extract, yeast extract or soy sauce, we do not add any additional MSG.

Did General Mills sell Progresso soup? ›

Food giant General Mills Inc. is weighing selling a portfolio of brands including Progresso soup and Helper, according to people with knowledge of the matter. General Mills is working with Goldman Sachs Group Inc.

Where is Campbell soup made in Texas? ›

Campbell Soup Supply Company- Paris, Texas | Paris TX.

Is Heinz owned by Mcdonalds? ›

Heinz supplied McDonald's customers with its fan-favorite ketchup packets for more than 40 years. However, in 2013 Heinz was acquired by a new company with a new CEO, Bernado Hees. Hees was the former CEO of Burger King, McDonald's fast food rival.

Who bought Heinz ketchup? ›

Heinz and Kraft merger

On March 25, 2015, Kraft Foods Group Inc. announced that it would merge with the H. J. Heinz Company, owned by 3G Capital and Berkshire Hathaway Inc., to form the world's fifth-largest food and beverage company. The companies completed the merger on July 2, 2015.

Is Heinz ketchup all the same? ›

Globally, Heinz manufactures ketchup in factories across the world, including the UK and the Netherlands. Although there is one basic recipe for their ketchup, there are variations tailored to regional tastes, and usually depend on the country where it is manufactured.

Does Warren Buffett own Heinz? ›

Berkshire Hathaway's Kraft Heinz Stake

Warren Buffett's position in Kraft Heinz is currently worth $12.9 Billion. That's 3.73% of their equity portfolio (6th largest holding). The investor owns 26.58% of the outstanding Kraft Heinz stock. Warren Buffett acquired their 326 Million shares in 2015.

Who owns most of Kraft Heinz? ›

Berkshire Hathaway holds the largest stake in Kraft Heinz, with a 26.65% stake and over 325 million shares. It is followed by minority holders including Vanguard, SSgA Funds Management, and BlackRock Fund Advisors with 4.49%, 2.5%, and 2.22% stakes, respectively.

Does Goldfish crackers contain Roundup? ›

The report found that foods such as Cheerios, Goldfish Crackers, Oreos and Doritos contain residues of the chemical glyphosate. Also known by the name Roundup, glyphosate is used to kill weeds in crops.

Who owns Campbells cash and carry? ›

Dating back to 1933, Campbells today is part of the Metcash Group, Australia's leading wholesale distribution company supporting independent retailers.

Is Campbell Soup an American company? ›

Campbell Soup Company, American manufacturer, incorporated in 1922 but dating to a canning firm first established in 1869, that is the world's largest producer of soup.

What country is Campbell soup? ›

The Campbell Soup Company began in 1869 in Camden, New Jersey, USA. The company was originally called the Joseph A Campbell Preserve Company and made canned tomatoes and vegetables, jellies, soups, condiments and minced meats.

Is Campbell Soup Company ethical? ›

At Campbell, we are committed to conducting business with the highest ethical standards and in compliance with all laws. This commitment has been a strength of our Company for the past 150 years.

Where is Campbell Soup headquartered? ›

Image of Where is Campbell Soup headquartered?
Camden is a city in and the county seat of Camden County, in the U.S. state of New Jersey. Camden is part of the Delaware Valley and is located directly across the Delaware River from Philadelphia, the nation's sixth most populous city.
Wikipedia

Does Campbell Soup own Progresso soup? ›

Progresso, a brand of General Mills, is an American food company that produces canned soups, canned beans, broths, chili, and other food products.
...
Progresso.
Progresso logo
IndustryFood processing
ParentGeneral Mills
2 more rows

Who makes Panera soups? ›

Blount Fine Foods, formerly Blount Seafood, is a prepared foods and soup manufacturer that produces wholesale frozen and fresh soups under the Blount brand as well as Panera Bread and Legal Sea Foods. Blount Fine Foods is headquartered in Fall River, Massachusetts with a production facility in Warren, Rhode Island.

What is the oldest Campbell soup? ›

What Flavour was the first soup that Campbell's ever made? Beefsteak tomato was the first ever Campbell's Soup flavour! It was ready to eat, rather than the condensed variety many associate with our brand today, and was released in 1895.

What soups did Campbell's discontinue? ›

Recipes, meal planning ideas and more. Campbell stopped producing their soup products, and among them, they discontinued Campbell's Pepper Pot Soup, Black Bean Soup, Chicken Gumbo Soup, Campbell's Chunky Philly-Style Cheesesteak Soup, and Campbell Scotch Broth Soup.

What is the most popular soup company? ›

List of Largest Soup Companies Operating in the Global Market:
  • B&G Foods Inc.
  • Baxters Food Group Limited.
  • Blount Fine Foods.
  • Campbell Soup Company.
  • Conagra Brands Inc.
  • General Mills.
  • Nestle SA.
  • The Kraft Heinz Company.
Jan 18, 2022

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