August 9, 2007/Business Wire/Camden, N.J. -- Campbell Soup Company announced that it will explore strategic alternatives, including possible divestiture, for its Godiva Chocolatier business. The decision follows a review of Campbell's portfolio as part of the company's ongoing strategic planning process.

Godiva Chocolatier is one of the world's leading premium chocolate businesses and has annual sales of approximately $500 million. Godiva products are sold through company-owned and franchised retail stores, wholesale distribution points, including specialty retailers and finer department stores, and on the internet.

Douglas R. Conant, Campbell's president and chief executive officer, said, "Godiva is one of the world's most recognized luxury brands and the business has been a strong performer for Campbell. 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."

Campbell has retained Centerview Partners LLC as its financial advisor in this matter.

From the August 13, 2007, Prepared Foods e-Flash