Campbell Soup Co. has moved to bolster its range of soups on sale in the US with the acquisition of organic business Wolfgang Puck.
Go deeper with GlobalData
Campbell struck a deal with Country Gourmet Foods for an undisclosed sum and also secured the North American licence to the Wolfgang Puck brand on soup, stock and broth.
The brand, named after US chef Wolfgang Puck, was launched in 1997 and generates annual net sales of around US$22m.
Campbell president and CEO Doug Conant said the company had to expand its soup business into the organic segment. The company said sales of organic soups climbed on average by 23% each year between 2003 and 2007.
Denise Morrison, president of Campbell’s North America soup, sauces and beverages business, said: “What makes Wolfgang Puck attractive to Campbell is its association with gourmet, chef-inspired recipes and its strong and growing presence in the organic and natural segment of the market.”
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataThe acquisition comes as Campbell looks to revitalise its soup sales in the US. During the three months to 27 April, the company saw sales fall 3% thanks to its ready-to-serve products.
Elsewhere, Campbell has plans to launch a range of new products, including pureed and lower-sodium soups.
