Campbell Completes Acquisition of Kelsen Group

Campbell Completes Acquisition of Kelsen Group

CAMDEN, N.J.--(BUSINESS WIRE)-- Campbell Soup Company (NYSE: CPB) today announced that it has completed the acquisition of Kelsen Group A/S, a producer of quality baked snacks, including the Kjeldsens and Royal Dansk brands, sold in 85 countries around the world. Based in Nørre Snede, Denmark, Kelsen is a market leader in the assortment segment of the sweet biscuits category in China and Hong Kong, where growth in sweet biscuits is outpacing the growth of the $60 billion global sweet biscuits market.

Campbell will operate Kelsen as a standalone business, reporting to Luca Mignini, President - Campbell International. Senior members of Kelsen's management team, including Brian Rønsholdt, CEO of Kelsen Group, will continue to lead the business.

Mignini said, "We are excited to bring Kelsen's talented team and distinctive brands to Campbell. The acquisition of Kelsen, with its strong brand awareness in China and Hong Kong, is an ideal complement to Campbell's global baked snack businesses and a platform for additional growth for Campbell in key emerging markets."

About Campbell Soup Company

Campbell Soup Company is a manufacturer and marketer of high-quality foods and simple meals, including soup and sauces, snacks and healthy beverages. Founded in 1869, the company has a portfolio of market-leading brands, including "Campbell's," "Pepperidge Farm," "Arnott's," "V8," "Bolthouse Farms" and "Plum Organics." Through its corporate social responsibility program, the company strives to make a positive impact in the workplace, in the marketplace and in the communities in which it operates. Campbell is a member of the Standard & Poor's 500 and the Dow Jones Sustainability Indexes. For more information, visit www.campbellsoupcompany.com or follow company news on Twitter via @CampbellSoupCo.

Forward-Looking Statements

This release contains "forward-looking statements." Forward-looking statements can be identified by words such as "anticipates," "intends," "plans," "believes," "estimates," "expects" and similar references to future periods. Examples of forward-looking statements include, but are not limited to, statements we make on the expected impact of the Kelsen Group acquisition. Forward-looking statements are based on our current expectations and assumptions regarding our business, our industry and other future conditions. Forward-looking statements are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Our actual results may differ materially from those contemplated by the forward-looking statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements include our ability to realize the anticipated benefits from the acquisition of Kelsen Group and the other factors described in the company's most recent Form 10-K and subsequent SEC filings. We undertake no obligation to update these statements to reflect new information or future events.

Campbell Soup Company
Carla Burigatto (Media)
856-342-3737
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Jennifer Driscoll (Analysts/Investors)
856-342-6081

KEYWORDS: United States Europe Asia Pacific North America China Denmark New Jersey Hong Kong

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