A strong performance by its Bolthouse Farms unit helped the Campbell Soup Co. generate higher sales in the second quarter.
Sales at Camden, N.J.-based Campbell’s, which purchased carrot specialist Bolthouse in July, surged 10% and earnings rose 5% in the second quarter of fiscal 2013, according to a Campbell’s news release.
Excluding restructuring and restructuring-related charges, Campbell’s adjusted net earnings were $220 million in the quarter ending Jan. 27, up from $207 million in the prior year’s quarter. Adjusted net earnings per share were 70 cents, up from 64 cents the year before.
The performance of Bolthouse was a key reason for the company’s success, Denise Morrison, Campbell’s president and chief executive, said in the release.
“Our newly acquired Bolthouse Farms business delivered solid results in the fresh carrots, beverages and salad dressings categories, driven by innovation and increased distribution,” she said. “The Bolthouse Farms integration is also progressing well.”
Campbell’s paid $1.55 billion for Bolthouse, which had supplied Campbell’s with carrots for its soups and V-8 and other juices before the sale.
Bolthouse is a separate business unit within Campbell’s.