July 1, 2009 (FinancialWire) — Campbell Soup Co. (NYSE: CPB) said it has completed the acquisition of a 1.9-acre tract of land previously owned by the Delaware River Port Authority as part of the company’s efforts to develop an office park adjacent to its headquarters.

The soup maker purchased the land, which had been used as a parking lot, for $426,000. The property is adjacent to three additional parcels Campbell purchased.

Robert Zane, Campbell’s vice president of Real Estate Operations, said, “We have lived up to every commitment we made on this project, and we continue to make progress on our plans to help revitalize this corner of Camden.”

The planned office park will occupy around 100 acres, with Campbell’s campus covering around 40 acres. The proposed office park would cover parcels previously containing vacant and neglected buildings and empty lots, according to the company.

Campbell said it plans to invest up to $90 million in the project.

Campbell broke ground on its new building in October 2008 and completed the steel phase of construction in April 2009, which is part of a 90 million dollar expansion of its world headquarters.

Camden, New Jersey-based Campbell Soup is a manufacturer and marketer of foods including soup, baked snacks, and beverages. The company has a portfolio of brands including Campbell’s, Pepperidge Farm, Arnott’s, and V8.

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