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CAMPBELL, NAKANO FORM JOINT VENTURE TO MARKET SOUP IN JAPAN

 CAMDEN, N.J., Nov. 4 /PRNewswire/ -- Campbell Soup Company (NYSE: CPB) of the U.S. and Nakano Vinegar Co., Ltd., of Japan -- leading branded food companies in their respective countries -- announced today they will form a joint venture to market Campbell soups in Japan.
 The new company, to be called Campbell Nakano, Inc., will be based in Tokyo and is 51 percent owned by Campbell and 49 percent by Nakano. The company, which initially will have a complement of 15 employees, will import Campbell's soups from the U.S. and sell them throughout Japan, utilizing Nakano's extensive sales and distribution system. Campbell presently has a small, underdeveloped canned soup business in Japan with distribution limited to two major metropolitan areas -- Tokyo and Osaka.
 William K. Douglas, Campbell's vice president and regional director, and president of the new company, praised the opportunities presented by the joint venture:
 "At present, Campbell is a small player in the $540 million Western' soup market in Japan. We intend to fully utilize Nakano's sales force of more than 200 professionals to market our products throughout Japan. Although, canned soup constitutes only three percent of the 'Western' soup market, recent marketing research undertaken by Campbell indicates great opportunities for accelerated growth, particularly now that our marketing activities will be supported by Nakano's strong nationwide distribution power."
 Tsuneo Sato, director and general manager for Nakano and chairman of the new company, noting that both companies are more than 120 years old (Nakano was founded in 1804, Campbell in 1869) said: "It is important to realize that both of our venerable companies, are 'family' companies, in which the founding families continue to have a strong interest in the destiny of the firms. This gives us greater stability and a perspective that is distinct from most other joint ventures in Japan. We intend to provide Japanese consumers with the best quality Western-style soups that only Campbell knows how to make."
 In addition to soup sold through retail outlets, the new company also will pursue opportunities in the institutional food service market, using Nakano's 130-person food service sales force.
 Campbell, which reported sales in fiscal 1993 of $6.6 billion, markets such well-known brands as "Campbell's" soups, sauces, tomato juice and beans; "V8" vegetable juice; "Godiva" chocolates; "Pepperidge Farm", "Delacre" and "Arnott's" baked goods; "Prego" spaghetti and pizza sauces; "Vlasic" pickles and olives; "Marie's" salad dressings; "Swanson" and "Mrs. Paul's" frozen foods; and "Fray Bentos" meat pies.
 Nakano, which reported sales in fiscal 1992 of $1.5 billion, is a major producer of grocery items in Japan and the U.S. Among its well- known brands are "Mitsukan", "Nakano" and "Indian Summer" vinegars and apple juices; "Sunkist" juice extract products; "Ajipon" sauces; and "Omusubiyana" rice ball mix.
 Until formation of the joint venture, Campbell marketed its soups through its wholly owned Campbell Japan, Inc., subsidiary, which will continue to market V8 and other vegetable juices and "Godiva" premium chocolates in Japan through existing distribution channels.
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 /CONTACT: James H. Moran of Campbell Soup, 609-342-6426/
 (CPB)


CO: Campbell Soup Company; Nakano Vinegar Co., Ltd. ST: New Jersey IN: FOD SU:

MP -- PH004 -- 0678 11/04/93 11:34 EST
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Publication:PR Newswire
Date:Nov 4, 1993
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