Campbell Soup Co. will launch more than 200 new products in fiscal 2015 to satisfy changing consumer tastes and help achieve its goal of becoming a profitable $10 billion company within five years, the packaged food and beverage giant said in an earnings call this week.
The company plans to strengthen its core businesses starting with US Simple Meals, which includes soup; revitalize its shelf-stable US Beverages business, led by the V8 brand; deliver stronger growth at Pepperidge Farm; and stabilize its Australian business, including “Arnott’s” sweet biscuits.
New product highlights include (see more here ):
- A kids’ line of smoothies, fruit tubes and veggie snackers under the Bolthouse Farms brand;
- “Juicing”-inspired vegetable juices under the V8 brand, with flavors such as carrot mango and healthy greens;
- Organic versions of popular Campbell’s branded soups like Chicken Noodle, Tomato & Basil and Garden Vegetable to capitalize on growing mainstream demand for organic;
- V8 protein shakes and protein bars that extend the brand beyond juice and into the venerable protein market; and
- Pepperidge Farm Pumpkin Spice “Milano” cookies for the fall and two varieties of soft-baked Coffee Shop cookies, Cinnamon Bun and Banana Walnut, inspired by sophisticated café flavors.
“In the last three years, we’ve been taking decisive action to reshape our portfolio and revitalize our growth trajectory, and you will see more of it in the future,” said Campbell president and CEO Denise Morrison during the call.
“We’re proceeding with a clear strategy and a sense of purpose that are squarely focused on the successful response to dramatic shifts in the landscape for our business, and we are confident that our strategy is moving us in the right direction.”