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The move is another step toward the company’s commitment to the State of New Jersey and the County and City of Camden to redevelop a Gateway Office Park in the city. Including this, Campbell has purchased a total of 13 acres in the city. The deal is also important from the view point of Campbell as the acquired properties are adjacent to its headquarter.
As per the city government, the acquisition will drive future development while creating new job opportunities within the city. Campbell is aggressively looking for potential developers and tenants. It has already received approval to demolish the building from the City Planning Board as well from the New Jersey Department of Environmental Protection (NJDEP). We believe the world’s largest soup maker company will be able to make a positive impression in the markets where it operates through its corporate social responsibility program.
Campbell Soup is one of the world's leading manufacturers of convenience food products. Furthermore, a strong portfolio of well-established brands, including Campbell’s, Erasco, Liebig, Pepperidge Farm, V8, Pace, Prego, Swanson, and Arnott’s offer a competitive edge to the company and strengths its well-established position in the market.
Moreover, we believe that Campbell’s prudent investment and strategic initiatives toward product innovation and brand building will lead to an increase in its customer base and profitability. Moreover, the company’s continuous focus on research and development to further differentiate its higher-margin sauce brands will strengthen its position in international markets.
However, rising commodity costs, intense competition from other established players and exposure to unfavorable foreign currency fluctuations may undermine the company’s growth prospects.
Campbell, which currently competes with General Mills Inc. (GIS - Analyst Report) and H.J. Heinz Company (HNZ), has a Zacks #3 Rank, implying a short-term ‘Hold’ rating on the stock. Moreover, we have a long-term ‘Neutral’ recommendation over the stock.
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