General News
Campbell’s Mourns Longtime Board Member Mary D. Malone
The Campbell’s Company and the company’s board of directors mourn Mary Alice Dorrance Malone who recently passed away at the age of 75. Malone was the longest-tenured member of Campbell’s board of directors with 35 years of service.
Malone was the granddaughter of Dr. John T. Dorrance, the inventor of condensed soup and President of the company from 1914-1930, and the daughter of John T. Dorrance Jr., a former chair of the company from 1962-1984. She was elected to the Board in 1990 and served with distinction on many of the board’s standing committees, most recently on the Governance and Compensation & Organization committees.
Keith R. McLoughlin, chair of the board, said, “We are deeply saddened by the passing of Mary Alice. As a descendent of the company’s founder and a significant long-term shareholder, her contributions to grow and protect Campbell’s legacy were immeasurable. She will be missed in our board meetings and as a friend and colleague. On behalf of my fellow board members, we extend our heartfelt condolences to her family and friends.”
Malone was an entrepreneur, a private investor, and a philanthropist, having served for many years on the boards of several nonprofit organizations and actively participated in many philanthropic endeavors. Her passion and primary business were equestrian sports. She was President of Iron Spring Farm horse breeding and performance centers in Pennsylvania and Florida, which she founded in 1976.
Mick Beekhuizen, Campbell’s president and chief executive pfficer, said, “Mary Alice was a highly committed director and helped guide the company through many chapters. Her extensive knowledge of Campbell’s history, organization and culture, and her love for our food and iconic brands were invaluable to management and the board. Her positive impact on the company will last for generations to come. Everyone at Campbell’s offers our deepest condolences to her loved ones.”
Malone is survived by two daughters.
Funeral arrangements are not public. The family respectfully requests privacy during this time of mourning.
The board will be considering the election of a new member.
For 155 years, The Campbell’s Company has been connecting people through food they love. Headquartered in Camden, N.J. since 1869, generations of consumers have trusted Campbell’s to provide delicious and affordable food and beverages. Today, the company is a North American focused brand powerhouse, generating fiscal 2024 net sales of $9.6 billion across two divisions: Meals & Beverages and Snacks. The Campbell’s portfolio of 16 leadership brands includes: Campbell’s, Cape Cod, Chunky, Goldfish, Kettle Brand, Lance, Late July, Pace, Pacific Foods, Pepperidge Farm, Prego, Rao’s, Snack Factory pretzel crisps, Snyder’s of Hanover, Swanson and V8.
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Nylabone Debuts Nubz Chew Treats for Dogs
Nylabone, an iconic brand in the Central Garden & Pet portfolio, is bringing even more tail-wagging joy to treat time with the launch of Nubz Flavor Bursts chew treats – a flavorful addition to its popular Nubz dog treat line, just in time for summer snacking.
Made with real cheddar cheese and irresistible bacon flavor, these natural chew treats are crafted using innovative technology that encapsulates savory flavor bursts throughout each chew, not just on the surface. They’re also the newest wheat-free and corn-free addition to the Nubz® collection—perfect for providing grain-sensitive dogs the excitement they deserve in their treats.
“Summer is all about embracing fun and indulging in bold flavors, and Flavor Bursts chew treats deliver it all in one mouthwatering yet guilt-free reward,” said Glen S. Axelrod, president and CEO of Nylabone Products. “They combine everything pet parents and dogs love about Nubz—natural, real ingredients; irresistible flavor; and USA-made quality—and leave out the corn and wheat, making them an accessible treating option for dogs with dietary needs.”
Crafted with a highly digestible potato starch recipe, Nubz Flavor Bursts contain no artificial preservatives, colors, or fillers. They also feature the brand’s namesake dental textures to promote healthy teeth and gums, can easily break in half for smaller treats, and are proudly made in the USA.
Nubz Flavor Bursts chew treats are now available on Amazon.com, Chewy.com, and Walmart.com, ready to add a flavorful new twist to your dog’s summer routine.
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High Liner Foods Acquires Mrs. Paul’s, Van de Kamp’s Brands
High Liner Foods Inc., a leading North American value-added frozen seafood company, has entered into a purchase agreement to acquire the Mrs. Paul’s and Van de Kamp’s brands of frozen breaded and battered fish products from Conagra Brands for $55 million, inclusive of approximately $36 million in inventory. The purchase price is subject to a customary inventory adjustment.
“This is a highly strategic and compelling opportunity for High Liner Foods that will serve as a catalyst for further growth in the U.S retail market,” said Paul Jewer, president and chief executive officer of High Liner Foods. “By taking full ownership of these well established and respected brands, we will capture additional value for our shareholders and ensure a seamless transition for existing customers. We look forward to offering choice and value to an expanded portfolio of customers and consumers in the growing U.S market.”
High Liner Foods currently co-manufactures products for Mrs. Paul’s and Van de Kamp’s brands at its U.S. based manufacturing facilities, an average of 25 million pounds annually. The transaction secures the volume associated with the company’s current contract with Conagra, which is due to expire in 2027. It is anticipated to increase High Liner Foods’ annual volume from this business to a total of approximately 29 million pounds of fish procured, processed and sold in the United States, aligned with the company’s strategy to continue to diversify its global supply chain.
Before reaching the anticipated annual run rate of $11 million Adjusted EBITDA in 2027, which is inclusive of current contract margin, incremental contribution and synergies, the transaction is anticipated to generate incremental Adjusted EBITDA for 2026 of approximately $4 million on top of existing contract margins. The company anticipates approximately 12 to 18 months of ramp-up time to realize synergies from across the Company’s operations which are reflected, after transaction costs, in the estimated annual run rate from 2027 onward. The transaction is expected to be slightly accretive to Adjusted EBITDA starting in the second half of 2025.
Mrs. Paul’s and Van de Kamp’s are leading brands in the frozen breaded and battered category in U.S. retail with high consumer awareness. High Liner Foods intends to leverage the brands’ strong conversion metrics and brand equity to drive incremental sales of its diversified portfolio of branded and value-added retail products through an expanded distribution network and a significant national base of new retail customers.
The company will fund the transaction from its existing ABL facility. The transaction is expected to close at the end of June 2025, subject to customary closing conditions.
Jewer concluded, “This strategic transaction is one example of the steps we are taking to position High Liner Foods for future growth, leveraging our healthy balance sheet today to secure profitable volume and incremental growth for years to come. We have a clear line of sight to significant synergies that will strengthen our performance over time through operational efficiencies and incremental sales opportunities.”
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