Campbell’s intends to grow through continued focus on health, well-being in food

Campbell Soup Co. in Camden outlined its plans for future growth at its annual investor meeting Wednesday.Campbell Soup Co. in Camden outlined its plans for future growth at its annual investor meeting Wednesday.

“In the last six years, we’ve made significant progress activating our purpose, ‘Real Food that Matters for Life’s Moments,’ and transforming our portfolio toward faster-growing spaces,” Denise Morrison, CEO and president, said in a prepared statement. “Our intention has been to move Campbell in the direction of health and well-being. We are committed to accelerating those efforts and strive to be the leading health and well-being food company, because we recognize that real food and healthier food is better for our consumers and better for our business.”

The company discussed several growth initiatives over the next several years: portfolio diversification and the expansion into new categories; a commitment to environmental sustainability; more effective agricultural strategies; and higher levels of marketing and customer service.

Campbell also reaffirmed its commitment to the sale of real, healthy and fresh food, including its ongoing investment of $50 million in core businesses.

For example, the company said it plans to soon complete its transition of all soups in the U.S. and Canada to non-BPA lined cans, while working to convert its use of antibiotic-free chicken in its soup portfolio by the end of this year.

Campbell currently has approximately $1 billion in annual net sales from fresh products, and its portfolio provides nearly 15 billion servings of vegetables and more than 2.4 million tons of whole grains to consumers annually, according to market research. The company’s organic portfolio is in the Top 10 in the industry and growing at double digits.

Its latest acquisitions of healthy food brands, such as Bolthouse Farms, Plum Organics, Garden Fresh Gourmet and Pacific Foods, have helped Campbell in this initiative.

Additionally, to build greater trust and transparency with customers, Campbell announced an agreement with The Sage Project to partner on digital disclosure of ingredients using Sage’s food data platform.

The company also announced the formation of an e-commerce unit in North America with the goal of accelerating digital marketing and e-commerce efforts to generate $300 million in sales over the next five years.

Shakeel Farooque, who previously worked for companies such as Kohl’s, eBay and Amazon, was hired to lead the unit as vice president and head of digital and e-commerce.

Campbell had previously made a $10 million investment and strategic partnership with online meal kit company Chef’d in order to kick start its e-commerce efforts.

Lastly, Campbell plans to diversify its snacking portfolio and pursue expansion in developing markets in order to add approximately $200 million in sales across its three divisions over the next five years. The company currently sells snack brands such as Goldfish crackers, Milano cookies, Kelsen biscuits, and Arnott’s baked snacks.

“Campbell’s goal to lead in health and well-being is attainable, but we will need to redouble our efforts by extending the real food credentials of our current brands and adding more brands that resonate with consumers; improving our rate of innovation; and increasing our distribution capabilities in new channels,” Morrison said. “Some of this we can build ourselves, but in other instances we will have to leverage external development.”