Campbell Investment Company – Investment Lecture Notes – Aequitas Investment Advisors.
Campbell Investment Company
- An investment company is a company whose main business is holding securities of other companies purely for investment purposes. The investment company invests money on behalf of its shareholders who in turn share in the profits and losses.
- A corporation or trust whose primary purpose is to invest the funds of its shareholders.
- a financial institution that sells shares to individuals and invests in securities issued by other companies
- A city in west central California, southwest of San Jose, part of the Silicon Valley research and industrial complex; pop. 36,048
- This is a list of James Bond allies in the film On Her Majesty’s Secret Service.
- United States mythologist (1904-1987)
- Campbell is a city in Santa Clara County, California, a suburb of San Jose part of Silicon Valley, in the San Francisco Bay Area. As of 2007 population estimates, Campbell’s population is 39,200., City of Campbell. Retrieved on 2008-02-18.
E.J. Lander and Co., Grand Forks, ND
E. J. Lander Dies at 92
Death came early Friday (July 24, 1953) to the last of the old pioneer businessmen of Grand Forks when E. J. Lander died in a local hospital at the age of 92, just 70 years after he started his career in this city.
He had retired from active business last November, but he continued in an advisory capacity until January. He entered the hospital July 13. Advanced age was given as the cause of his death.
He is survived by Mrs. Lander; a son, Miles K. Lander of Waterloo, Ia.; two grandchildren, Edward K. Lander, 1530 Cottonwood St., and Robert Lander, 1102 Belmont Rd., and five great grandchildren.
Funeral Set Sunday
The two grandsons are active in the conduct of the business their grandfather founded. Mr. and Mrs. Miles Lander will arrive tonight from Waterloo; he had visited his father here this spring.
Funeral services will be held Sunday at 2:30 p.m. in the First Presbyterian church, with Rev. Harry P. Sweitzer officiating. Burial will take place in Memorial Park cemetery. The body will lie in state at the Hanson-Anderson funeral home Saturday evening.
Mr. Lander died at 6 a.m. He had been in declining health for several months, but had remained at his home until last week. Attending physicians said there was “nothing especially wrong with him,” except that he “was just worn out.”
Was Civic Leader
For nearly three-quarters of a century Mr. Lander was in the forefront of community development in Grand Forks, taking an active interest in all local affairs from the time he arrived here in the summer of 1883, a youth of 22.
Grand Forks was just a straggling city then – in fact, it has been incorporated as a city only two years before his arrival. He had much to do with the development of the city to its present flourishing proportions, and he was ever a champion of its virtues and had outspoken confidence in its future.
He and William Rand were the organizers of the Grand Forks Commerical club, the forerunner of the present Chamber of Commerce, and for many years Mr. Lander was its president and strongest proponent.
He was as well one of the organizers of the Grand Forks Kiwanis club; he was a member of many Masonic orders, and was affiliated with the First Presbyterian church, which he served for many years as a trustee.
Until recent years, he had been active in social affairs of the city. He was a member of the old Pioneer club; with the exception of Dr. R. D. Campbell, he was believed to be the last surviving member of the original golf club here.
Mr. Lander founded E. J. Lander & Co. shortly after his arrival here. It dealt in investments, mortgage loans, and handled management of farm lands and city property. It has branch offices in Great Falls, Mont., and Rugby, N. Dak.
Other business connections included large stock holdings in the Grand Forks Transportation Co.; the Western Investment Co., and the Shaw Poster Advertising Co., which handled outdoor billboards.
He was active in the organization of the Northern Packing Co., which later was sold to Armour & Co.; he had a big part in bringing the beet sugar plant to East Grand Forks; he was one of the founders of the Grand Forks Building & Loan Association, and he served at various times on the boards of a number of banks and other corporations.
He had visited Grand Forks in the spring of 1883 on his way to Sioux Falls, S. Dak., on a business trip. He was attracted to the thriving little community, and returned to open his business here on Aug. 1, 1883.
Born Sept. 12, 1860, in Rockford, Ill., he was christened Edward John Lander. There he received his grade and high school education before coming to Grand Forks.
Here he opened his office in the one-story building on Third Street, adjoining the Great Northern right of way. His firm later occupied offices at Third street and Kittson avenue and at Fourth street and DeMers before the present company location was occupied in 1913, on DeMers between Fourth and Fifth streets.
In 1894, Mr. Lander was married in Montreal, Canada, to Miss Jessie King Krause, and the couple returned here to make their first home in the original Dacotah hotel, which was built in 1889 and destroyed by fire Dec. 17, 1897. Mr. Lander, incidentally, was probably the only resident of this city who was present at the opening of all three Dacotah hotels.
For more than a half century the Lander home has been at 722 Belmont Road, where Mr. Lander spent a great deal of time in his hobby of raising flowers. He was a pioneer grower of peonies here and at one time had over 130 varieties. Later he turned more to gladiolus, with hundreds of plants.
Was Sports Fan
He was always a great sports fan, playing baseball as an amateur in his youth and later turning to golf as a pastime. But long
Campbell Soup in new M&A talks after six years of ‘robust’ $1bn cash flow
Outgoing and incoming CEOs, Douglas Conant and Denise Morrison respectively, spoke of the Company’s new initiatives at the Consumer Analyst Group of New York conference held on 23 February.
Conant stated that organic growth would be the key to the company’s success and, “to the extent that we pursue acquisitions, we’ll pursue them in the context of the strategy that we develop rather than as a separate strategy unto themselves.”
The historic convenience food producer is in the process of determining how prominent a role M&A will play in its new growth strategy. In response to an analyst’s question about the prioritization of acquisitive versus organic growth, Denise Morrison said that at this point the preference was for bolt-on acquisitions, a common refrain on the part of companies in this sector at present.
Apart from a flirtation with the acquisition of United Biscuits, Campbell have been conservative in their approach at expanding and conspicuous by its absence from sector M&A activity over the past decade. Having only made a small number of buys since the acquisition of Unilever’s European sauce business in 2001 for USD 924m, it seems the brand are keen to favour well considered investments over big name acquisitions. A few shrewd sales in the past ten years have also bolstered Campbell’s confidence. In 2006 the Company disposed of its UK and Irish soup business, which was acquired by the now-struggling Premier Foods, as well as Godiva Chocolatier the following year.
As the number one maker of soups in the world, and with a 69% share alone in the US market, Campbell can afford to be confident. Yet sector bankers have suggested a strategic shift towards large deals on the part of Campbell could face opposition from the controlling Dorrance family. According to one of the bankers the family remains reluctant to address the idea of large scale M&A. The comments made by Denise Morrison at yesterday’s conference provided no clear evidence that Campbell will be more willing to entertain larger buys, ready or not.
The sector bankers had argued that financial pressure could force Campbell to entertain a more aggressive policy on expansion, claiming that it needs to make buys in growth areas to keep its bottom-line robust. CEO Conant stated that Campbell’s cash flow from operations has averaged nearly USD 1bn a year for the last six years, a level which he described as "very strong".
Although reluctant to confirm the size of future bolt-ons, Campbell are keen to go global with their winning canned food formula. Conant told analysts on Wednesday that on the geographic front the company is looking hard at emerging markets; talking of Russia, and China, both locations where Campbell now has minimal presence. India is seen as another area for growth, he noted, and pointed also to rapidly declining capacity for growth in Australia where existing food processing facilities are constrained to meet demand. He indicated that those needs could open up potential opportunities among food processing operations that could offer manufacturing capacity gains.
The company can be traced back to 1860 and is one of America’s most iconic brands. In a press release following the Unilever purchase in 2001, Campbell claimed they were “renewed, revitalized, and reinvigorated, and ready for the next phase of transformation”. Ten years on, Campbell are stronger than ever, but how long can the robust figures continue without a more forceful acquisition strategy.
Campbell are likely to employ the consumer sector specialist, Centerview Partners for advising their M&A polict, which it reportedly retained last year on the United Biscuits sale process. With regards to external legal advisers, Davis Polk & Wardwell and Freshfields Bruckhaus Deringer are the two firms that have been retained most consistently.