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At a Glance

Uppers

Competitive pay and benefits

Good work environment

Downers

Promotions can be few and far between

The Bottom Line

The world's leading soup maker is noted as a place with a strong commitment to employee satisfaction and corporate responsibility.

About Campbell Soup Company

The one of the world's top soup maker, Campbell Soup Company's range of products include Campbell's condensed and ready to-serve soups, Swanson broth and stocks, and Pacific Foods broth. Campbell also makes many other simple foods, snacks, and beverages, including Pace Mexican sauce, V8 juices and beverages, and Pepperidge Farm baked goods (including those popular tiny Goldfish crackers). The company sold its U.S. refrigerated business, Garden Fresh Gourmet business, and Bolthouse Farms business in 2019. The company also sold its Kelsen business, Arnott's business and European chips business also in 2019. Its biggest customer, Wal-Mart, accounts for around a fifth of all sales.

Operations

Campbell divides its operations into two segments: Meals & Beverages and Snacks.

Meals & Beverages segments includes Campbell's simple savory meal-time items such as soups, sauces, broths, stocks, and canned poultry and beverages such as juices. Meal brands include Campbell's, Swanson, Pacific Foods, Prego, Pace, and Plum and beverage brands include V8 and Campbell's. The segment reaches customers via retail and food services businesses in the US and Canada and generates nearly 55% of sales.

The Snacks segment consists of snack products of various types, including cookies, crackers, bakery, and frozen products. Brands include Milano cookies, Snyder's of Hannover pretzels, Lance sandwich crackers, Cape Cod and Kettle potato chips, Late July snacks, Snack Factory Pretzel Crisps, Pop Secret popcorn, Emerald nuts, and other products. Snacks account for over 45% of Campbell's sales.

By product category, snacks account for nearly 50% of total sales, soup accounts for about 30%, other simple meals represent around 15% of sales, and beverages generates about 10% of sales.

Geographic Reach

Headquartered in Camden, New Jersey, Campbell turns out products from more than 30 manufacturing facilities worldwide. The majority are in the US, but it also has one each in Indonesia and Malaysia.

The US is Campbell's largest market, accounting for more than 90% of sales.

Campbell has executive offices in Norwalk, Connecticut; Charlotte, North Carolina; Doral, Florida; Hanover, Pennsylvania; Tulatin, Oregon; Toronto, Canada; and North Strathfield, Australia.

Sales and Marketing

The company's businesses are largely concentrated in the traditional retail grocery trade. In recent years, alternative retail grocery channels, such as dollar stores, mass discounters and merchandisers, drug stores, club stores and e-commerce, have increased their market share. This trend towards alternative channels is expected to continue in the future.

Wal-Mart and Kroger are Campbell's largest customers, accounting for about 20% and around 10% of sales, respectively. Campbell's five largest customers bring in nearly 45% of sales.

Campbell's advertising and consumer promotion expense is $347 million for 2019, and $327 million both for 2018, and 2019, respectively.

Financial Performance

Over the last five years, Campbell's sales declined for the first three years, but bounced back the next two years. Profits had a downward trend, except for a bounce back year in 2017.

In fiscal 2019, Campbell's sales grew 23% to $8.1 billion primarily due to a 23-point benefit from the acquisitions of Snyder's-Lance and Pacific Foods of Oregon, LLC.

Net income fell 19% to $211 million due to pension settlement charges and a big increase in interest expense, partially offset by lower losses from discontinued operations.

Campbell's cash balance fell by $18 million to $31 million in 2019. Operating activities generated $1.4 billion and investing activities yielded $153 million, offset by the $1.6 billion used in financing activities. In the absence of any material acquisition expenses, the company took the opportunity to pay down short- and long-term debt, which were getting a bit out of hand.

Strategy

Campbell's strategy is to deliver long-term sustainable growth by focusing on its core brands in two divisions within North America while delivering on the promise of its purpose - Real food that matters for life's moments.

The Company plan to revise its consumer and customer engagement models through the development of more defined consumer-oriented portfolio roles for its products and increase prioritizing of retailers, which it believes will create a more profitable growth model. In addition, the company expect to increase focus on the growth of its snacks business. It also intends to dedicate additional investment in U.S. soup and support its core brands through a revised marketing and innovation model tailored to specific categories and targeted customers and consumers.

Campbell will continue pursuing its multi-year cost savings initiatives with targeted annualized cost savings of $850 million for continuing operations by the end of 2022, which includes $295 million in synergies and run-rate cost savings from its acquisition of Snyder's-Lance, Inc. (Snyder's-Lance). The Company expect to achieve these additional savings with continued network optimization, organization consolidation and integration, procurement savings and incremental savings opportunities across several cost categories.

On the flipside, Campbell has also waved goodbye to several businesses to raise cash, exit underperforming businesses, or reduce non-US activities. In 2019 it sold its US refrigerated soup, Garden Fresh Gourmet, Bolthouse Farms, Kelsen, Arnott's, and European chips businesses, raising roughly $2 billion.

Company Background

Campbell Soup Company was founded by Joseph Campbell and Abraham Anderson in 1869 in Camden, New Jersey. The company launches its first advertising campaign in good housekeeping in 1905. In 1934, the company's chicken noodle soup and cream of mushroom was introduced.

Campbell Soup Company goes public in New York Stock Exchange in 1954.

Campbell Soup Company

1 Campbell Pl
Camden, NJ 08103-1799
Phone: 1 (856) 342-4800

Firm Stats

Employer Type: Publicly Owned
Stock Symbol: CPB
Stock Exchange: , NYSE
SVP and CFO: Anthony P. DiSilvestro
President and CEO: Denise M. Morrison
Chairman: Les C. Vinney
Employees (This Location): 1,200
Employees (All Locations): 19,000

Major Office Locations

Camden, NJ

Other Locations

Hoover, AL
Bentonville, AR
Phoenix, AZ
Davis, CA
Dixon, CA
Redwood City, CA
Sacramento, CA
Stockton, CA
Bloomfield, CT
Norwalk, CT
Orange, CT
Millsboro, DE
Coral Gables, FL
Fort Myers, FL
Jacksonville, FL
Melbourne, FL
Miramar, FL
Orlando, FL
Saint Petersburg, FL
Sarasota, FL
Columbus, GA
Downers Grove, IL
Skokie, IL
Wichita, KS
Lexington, KY
Louisville, KY
Saint Rose, LA
Canton, MA
Weymouth, MA
Upper Marlboro, MD
Ferndale, MI
Livonia, MI
Marshall, MI
Taylor, MI
Kansas City, MO
Olive Branch, MS
Charlotte, NC
Laurel Hill, NC
Maxton, NC
Omaha, NE
Camden, NJ
Wharton, NJ
Newburgh, NY
Owego, NY
Ashland, OH
Cincinnati, OH
Columbus, OH
Grove City, OH
Napoleon, OH
Willard, OH
Edmond, OK
Broomall, PA
Denver, PA
Downingtown, PA
Hanover, PA
Rostraver Township, PA
Clover, SC
Columbia, SC
Johnson City, TN
Fulton, TX
Garland, TX
Houston, TX
Paris, TX
San Antonio, TX
Richmond, UT
Lorton, VA
Springfield, VA
Pleasant Prairie, WI
Naha, Japan
Anjou, Canada
Calgary, Canada
Dartmouth, Canada
Listowel, Canada
Moncton, Canada