Campbell’s buys Wolfgang Puck soup business
Campbell’s buys Wolfgang Puck soup business
Campbell Soup Co. is moving into the organic-soup section of the supermarket with the purchase of the Wolfgang Puck soup business from Country Gourmet Foods L.L.C., the company said today.
The price was not disclosed. Campbell said Wolfgang Puck soups had annual sales of about $22 million.
The deal will not have a material impact on its results for fiscal 2009, which starts in August, Campbell said.
Separately, Campbell signed a licensing agreement with Wolfgang Puck Worldwide Inc. to use the restaurateur's eponymous brand on soup, stock and broth in North American retail stores, with an option to use the brand in other categories.
"As the world's leading soup company, Campbell must expand its role in the organic segment of the market," Campbell's president and chief executive officer, Douglas R. Conant, said in a news release.
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