Heinz convey interest in Campbell

Posted by Daniel Palmer on 15th August 2008

H.J. Heinz Co.’s CEO William Johnson has flagged the possibility of an attempt to acquire Campbell Soup Company by advising that the world’s leading soup manufacturer would be a “nice fit” for the company.

“Campbell is a great company,” Mr Johnson said upon being questioned by a shareholder at the Heinz AGM about making an offer for Campbell. “Campbell would represent a nice fit with the company. We are always looking for opportunities to expand and grow.”

Heinz announced on Wednesday that they had completed a positive year with their Fiscal 2008 sales increasing by 12% due to a renewed focus on the health and wellness sector and growth in emerging markets.

Mr Johnson noted that the balance sheet would enable them to consider acquisitions as an avenue for further growth. “With a healthy balance sheet and abundant opportunities to explore in both the developed and developing world, we are confident in our ability to execute value-added acquisitions,” he concluded.