Microwaveable Soups Launch Builds on Success of `Soup at Hand`
CAMDEN, N.J.--(BUSINESS WIRE via COLLEGIATE PRESSWIRE)--Feb 18, 2003--Campbell`s is making its soup ''M`m! M`m! Good! To Go!''
Campbell Soup Company (NYSE:CPB) today announced a major expansion of its soup portfolio designed to meet growing consumer demand for convenience. Campbell`s new convenience line of single-serve, microwaveable soups builds on the initial success of ''Soup at Hand,'' the sippable soup Campbell introduced last fall, and the powerful brand equities of the company`s most popular ready-to-serve soups,
''Chunky'' and ''Select.''
Launched last year with four varieties, ''Soup at Hand'' was one of the most successful new product introductions in the company`s history. Campbell`s will add seven new varieties to the ''Soup at Hand'' line-up, including three flavors targeted at the ''tween'' market. Campbell will also introduce six varieties of ''Chunky'' and four varieties of ''Select'', which will be available in new single-serve, microwaveable bowls.
Campbell`s expanded convenience platform is part of its strategy to revitalize its U.S. Soup business, a central element of the company`s Transformation Plan. According to National Eating Trends, one out of four meals are eaten on the go and 44 percent of women carry lunch to work or school. With simple microwave preparation and unique packaging, Campbell`s new ''M`m! M`m! Good! To Go'' line of microwaveable soups addresses the needs of these busy consumers.
''We intend to make the `C` in Campbell synonymous with convenience,'' said Campbell President and Chief Executive Officer Douglas R. Conant. ''Our success this year with ''Soup at Hand'' demonstrates it`s possible to dramatically change the perception our consumers have about soup. We see the opportunity to shift the paradigm so that our consumers think about soup as a `meal solution` for many new usage occasions. Over the last 18 months, we`ve been aggressively developing a comprehensive innovation program in soup. We`re now ready to launch our first wave, targeted at convenience.'' Conant announced the new soup initiatives today at a major meeting of securities analysts in Scottsdale, Arizona.
These new microwaveable soups are part of a comprehensive convenience initiative from Campbell`s. Beginning this fall, the effort also includes adding easy-open lids to Campbell`s entire line of family-favorite ''Red and White'' condensed soups and expansion of recently introduced in-store shelving initiatives designed to make shopping for Campbell`s soups easier and more convenient for consumers.
The new line of single serve, ready to serve soups will arrive on store shelves beginning in July. They include:
-- The expansion of Campbell`s ''Soup at Hand'' with seven new varieties, three of which will target a new generation of consumers - ''tweens'' - children 10 to 14. New ''tween'' flavors will include Chicken & Stars, Mexican Fiesta and Pizza. Since being introduced last year, each of the four original varieties of ''Soup at Hand'' - Classic Tomato, Creamy Chicken, Cream of Broccoli, and Blended Vegetable Medley - are among the top 20 percent of ready-to-serve varieties.
-- Campbell`s new portable ''Chunky'' soup, which will be available in the brand`s most popular six varieties, including Classic Chicken Noodle, Sirloin Burger with Country Vegetables. Each will be served in an individual, 16-ounce microwaveable bowl. ''Chunky'' is Campbell`s leading, and America`s favorite, ready-to-serve soup.
-- Campbell`s new portable ''Select'' soup, which will come in four microwaveable varieties, including New England Clam Chowder and Italian Style Wedding. In its first year of national distribution, Italian Wedding is one of Campbell`s most popular ''Select'' varieties.
About Campbell Soup Company
Campbell Soup Company is a global manufacturer and marketer of high quality soup, sauces, beverage, biscuits, confectionery and prepared food products. The company owns a portfolio of more than 20 market-leading businesses each with more than $100 million in sales. They include ''Campbell`s'' soups worldwide, ''Erasco'' soups in Germany and ''Liebig'' soups in France, ''Pepperidge Farm'' cookies and crackers, ''V8'' vegetable juices, ''V8 Splash'' juice beverages, ''Pace'' Mexican sauces, ''Prego'' pasta sauces, ''Franco-American'' canned pastas and gravies, ''Swanson'' broths, ''Homepride'' sauces in the United Kingdom, ''Arnott`s'' biscuits in Australia and ''Godiva'' chocolates around the world. The company also owns dry soup and sauce businesses in Europe under the ''Batchelors,'' ''Oxo,'' ''Lesieur,'' ''Royco,'' ''Liebig,'' ''Heisse Tasse,'' ''Bla Band'' and ''McDonnells'' brands. The company is ably supported by approximately 25,000 employees worldwide. For more information on the company, visit Campbell`s website on the Internet at www.campbellsoup.com.
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