Campbell May Spin Off Slow-Growth Units

Campbell Soup Co. may spin off its Swanson frozen foods, Vlasic pickles and other slow-growing businesses instead of selling them, analysts said. The world’s largest soup company said in July it planned to shed the businesses, with $1.4 billion in annual sales, that aren’t related to its soup, sauces, baked goods and food service lines. The Camden, N.J.-based company may announce its plans to spin off the units, which also include a fresh mushroom business, as early as today, analysts said. Campbell is holding a meeting today to brief analysts about its restructuring plan. Company spokesman Kevin Lowery declined to comment. He said the analyst meeting will be an update on the company’s growth and restructuring plan, which includes their plan to sell slow-growing businesses. Campbell’s shares rose 25 cents to close at $50.38 on the New York Stock Exchange. The company said its fiscal fourth-quarter earnings rose 6.4% to $191.9 million, or 42 cents a share, from $180.4 million, or 36 cents. The company had been expected to earn 39 cents a share.