Campbell Soup is planning to reorganize its business operations into three divisions, in a move to accelerate its growth trajectory.
Under the new plan, the new divisions, Americas Simple Meals and Beverages, Global Biscuits and Snacks, and Packaged Fresh, will be structured based on product categories, instead of geographies or brand groups.
Campbell Soup president and CEO Denise Morrison said: "The adoption of our new enterprise structure will be an important milestone for Campbell.
"This reorganization will help unlock the value of our brands and the growth potential of our business. It will drive focused investment on our largest growth opportunities.
"It is the logical next step in our ongoing effort to shift our company's center of gravity, accelerate our growth trajectory and maximize value for our shareholders."
The Americas Simple Meals and Beverages division will include Campbell's current US retail and foodservice businesses, Plum Organics, and the company's simple meals and shelf-stable beverage businesses in Canada, Mexico and Latin America.
The Global Biscuits and Snacks will consolidate the company's Pepperidge Farm, Arnott's and Kelsen businesses into a fully integrated global biscuits and snacks portfolio.
The company's simple meals and beverage businesses in Asia Pacific and Asia, including its soup and broth business in Hong Kong and China, as well as its Pepperidge Farm US bakery business, will also be operated and managed within Global Biscuits and Snacks division.
Packaged Fresh will include Bolthouse Farms' portfolio of fresh carrots, beverages and salad dressings and Campbell's retail refrigerated soup business.
Image: Campbell World Headquarters Office. Photo: courtesy of CSC Brands.
