Campbell Soup, Swire Pacific Form Chinese Soup Joint Venture

Campbell Soup Company has entered into a joint venture deal with Swire Pacific Ltd., forming Campbell Swire, to help develop its soup business in China. Campbell will take a 60 percent stake in the joint venture, which will start operating in early 2011 from Campbell's existing offices in, and will take charge of manufacturing and distribution in China, now the second largest economy and with one of the highest per capita levels of soup consumption worldwide, although most is homemade.