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August 14, 2008

US: Heinz “eyeing” Campbell

Heinz CEO William Johnson has indicated the acquisitive ketchup-maker’s interest in Campbell Soup Co, describing it as a “great company” at Heinz’s AGM yesterday (13 August).

Heinz CEO William Johnson has indicated the acquisitive ketchup-maker’s interest in Campbell Soup Co, describing it as a “great company” at Heinz’s AGM yesterday (13 August).

Responding to a shareholder question, Johnson said: “Campbell would represent a nice fit with the company. We are always looking for opportunities to expand and grow.”

Heinz has declined to confirm whether the possibility of acquiring Campbell has been seriously considered. “Heinz has no further comment,” a spokesperson for the company told just-food.

However, laying out its expansion strategy for the next two-year’s Heinz said it was on the look out for acquisitions having built up a sizable war chest.

“With a healthy balance sheet and abundant opportunities to explore in both the developed and developing world, we are confident in our ability to execute value-added acquisitions,” Johnson revealed.

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