Campbell's explores selling Godiva Chocolatier
August 09, 2007
by Eric Schroeder
CAMDEN, N.J. — Campbell Soup Co. said it is considering strategic alternatives for its Godiva Chocolatier business, including the possible sale of the unit. Godiva, which has annual sales of approximately $500 million, primarily markets its products through retail stores, wholesale distribution points, and on the Internet.
Campbell’s has owned Godiva since 1966.
"Godiva is one of the world’s most recognized luxury brands and the business has been a strong performer for Campbell," said Douglas R. Conant, president and chief executive officer, Campbell’s. "Although the premium chocolate category is experiencing strong growth and Godiva is well-positioned for the future, the premium chocolate business does not fit with Campbell’s strategic focus on simple meals — including soup, baked snacks and vegetable-based beverages. It is the right time to explore strategic alternatives for Godiva as we continue to optimize Campbell’s long-term growth potential by leveraging the competitive advantages of our simple meals, baked snacks, and vegetable-based beverages businesses."