Campbell Adds New Growth Platform with Acquisition
Campbell Soup Company enters into an agreement to acquire artisan bread maker Ecce Panis Inc., headquartered in East Brunswick, N.J. Campbell plans to run the business as part of its Pepperidge Farm bakery operations.
Douglas R. Conant, Campbell's president and chief executive officer, says, "The acquisition of Ecce Panis is consistent with our strategy to drive growth in our core categories through strategic acquisitions and outside partnerships. Artisan bread represents one of the fastest growing segments of the bakery category, and I am confident that we can leverage our sales and marketing capabilities to expand the availability of Ecce Panis products and complement our existing bakery business."
Financial terms were not disclosed. The transaction is expected to be completed later this spring. Campbell anticipates that the acquisition will not have a material impact on fiscal 2009 earnings and will be slightly accretive to earnings in fiscal 2010.
Douglas R. Conant, Campbell's president and chief executive officer, says, "The acquisition of Ecce Panis is consistent with our strategy to drive growth in our core categories through strategic acquisitions and outside partnerships. Artisan bread represents one of the fastest growing segments of the bakery category, and I am confident that we can leverage our sales and marketing capabilities to expand the availability of Ecce Panis products and complement our existing bakery business."
Financial terms were not disclosed. The transaction is expected to be completed later this spring. Campbell anticipates that the acquisition will not have a material impact on fiscal 2009 earnings and will be slightly accretive to earnings in fiscal 2010.