Campbell Soup plans to extend on biscuit markets in Asia
The Global Biscuits and Snacks division of Campbell Soup, which unifies the Kelsen, Pepperidge Farm and Arnott’s businesses, is committed to extending reach in faster-growing geographies with a priority focus on Asia.
With primary operations in two developed markets, the U.S. and Australia, and two developing markets where Campbell Soup has footholds, China and Indonesia, the company believes that it can leverage all of its assets and capabilities across the globe.
“With our new organization structure in place and experts in category development, digital and consumer marketing, we’re poised to claim a greater share of the USD 92 billion global Biscuits category“, said Denise Morrison, president and chief executive officer.
Campbell plans to reinvent its center store presence with the expansion of organic and pure and simple offerings across Americas Simple Meals and Beverages and Global Biscuits and Snacks.
To accelerate growth from health and well-being products, the company plans to build on Campbell’s Dinner Sauces, Campbell’s Organic soups, and V8 Veggie Blends, while also expanding the Plum line into simple meals and baked snacks.
CFO Anthony DiSilvestro provided a strategic financial overview and shared an update on the company’s redesigned organization structure, including its three divisions, and its cost savings initiative. The three-year cost savings initiative is delivering better-than-expected benefits and, as a result, the savings increased from USD 250 million to USD 300 million.
“These actions have had a positive impact on our costs and, over time, will contribute to changes in our culture,” said Morrison. “As a result, we’re now far better positioned to live our purpose, execute our strategic imperatives and have greater flexibility to invest in longer-term innovation models.”
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