Campbell steps up investments in healthy beverages
July 13, 2010
Campbell Soup Co., Camden, N.J., outlined long-term growth plans for its core businesses in healthy beverages, baked snacks and simple meals during a meeting with investors at its recently completed Campbell Employee Center.
Douglas R. Conant, Campbell's president and chief executive officer outlined Campbell's key success factors for long-term growth, including driving sales growth in healthy beverages and baked snacks through increased innovation, incorporating wellness, and higher levels of marketing support.
Sean Connolly, president, Campbell USA, described upcoming innovations, anchored by V8 juices, in Campbell's U.S. beverages business, including building on the success of V8 V-Fusion. Campbell will launch three new varieties of V8 V-Fusion plus Tea products. Campbell also plans to extend the V-Fusion line by adding new varieties, such as Concord Grape Raspberry. The company also will enhance the V8 line with new products, such as sweet carrot juice and lower sodium spicy hot V8 juice, and introduce a new, more contemporary package design, it said.
Campbell estimates the U.S. healthy beverages market to be nearly $34 billion annually. Campbell's U.S. V8 portfolio accounts for $1 billion in annual retail sales, the company said.
"An increasing number of people are turning to beverages as a way to get more vegetables into their diets. As this focus on health and wellness continues, Campbell's beverage portfolio remains well positioned," Connolly said, in a statement.