Camden, N.J., May 4 - Campbell Soup Company today announced it has completed the acquisition of artisan bread maker Ecce Panis of East Brunswick, N.J. Campbell announced the agreement on April 2, 2009. Campbell plans to run the Ecce Panis business as part of its Pepperidge Farm bakery operations.
Financial terms were not disclosed. Campbell anticipates the acquisition will not have a material impact on fiscal 2009 earnings and will be slightly accretive to earnings in fiscal 2010.
Founded in 1988 as a small Manhattan bakery, Ecce Panis has a premium portfolio of hand crafted, stone baked artisan breads that are sold primarily through the in-store bakeries of leading retailers and grocery chains across the country. The par baked frozen breads and rolls are shipped to customers where the baking process is finished within their in-store bakeries.
Ecce Panis has 115 employees and a state-of-the-art bakery operation in East Brunswick which utilizes a unique baking technique to deliver superior products. Campbell plans to operate Ecce Panis as a distinct business unit within Pepperidge Farm.
The company appointed Ralph DiVito as General Manager of Ecce Panis. A 30-year veteran of Campbell and Pepperidge Farm, DiVito has held a variety of roles in sales, operations and general management. He will lead Ecce Panis through the integration with Pepperidge Farm and will be responsible for establishing plans for future growth.