CAMDEN, N.J.–(BUSINESS WIRE)–June 12, 2007–Campbell Soup Company (NYSE:CPB) announced its wholly-owned subsidiary, Arnott’s Limited, has completed the sale of its Papua New Guinea (PNG) operations to two PNG government pension funds, after the pension funds exercised their pre-emptive rights to purchase the Arnott’s PNG shares. The pension funds were minority shareholders in the PNG operations.
Before the pre-emptive rights exercise, Campbell had announced that Arnott’s Limited had entered into a sale agreement with Goodman Fielder to purchase its PNG operations.
Financial terms were not disclosed. The transaction is not expected to have a material financial impact on Campbell.
About Campbell Soup Company
Campbell Soup Company is a global manufacturer and marketer of high quality foods and simple meals, including soup, baked snacks, vegetable-based beverages, and premium chocolate products, with annual revenues in excess of $7.3 billion. Founded in 1869, the company has a portfolio of market-leading brands, including “Campbell’s,” “Pepperidge Farm,” “Arnott’s,” “V8,” and “Godiva.” For more information on the company, visit Campbell’s website at www.thecampbellscompany.com.
CONTACT: Campbell Soup Company Media: Anthony Sanzio, 856-968-4390 or Toni Callaghan, 612-8767-7801 or Analysts: Leonard F. Griehs, 856-342-6428 SOURCE: Campbell Soup Company