Could Camden's Campbell Soup be next big takeover candidate?

A Bloomberg News report Wednesday said Camden's Campbell Soup may be the next big food industry takeover candidate.

Bloomberg cited an increase in options trader activity, specifically a block of 5,500 calls Monday morning that pay off if Campbell rallies more than 8 percent in the next month.

Campbell stock has risen about 2 percent in the last year, and is currently trading at about $44 per share.

"The company does not comment on rumor or speculation," said Tom Hushen, a spokesman for Campbell.

Stan Molotsky, president and CEO of SHM Financial in Collingswood, said that while the options activity was not unusually high, "that kind of action indicates there is a strong possibility that something is happening."

"Campbell's stock is up on higher-than-normal trading volume," Molotsky added. "Throw in the activity by the options traders, and something could be happening."

Several takeovers of giant food makers have taken place recently.

The purchase of condiment maker HJ Heinz by Berkshire Hathaway and 3G Capital, announced in February 2013, ignited speculation that food companies are attractive takeover targets.

In June, Tyson Foods Inc. won a bidding war with Pilgrim's Pride to buy Hillshire Brands Co., maker of Jimmy Dean sausages and Ball Park hot dogs.

Hillshire had intended to buy Pinnacle Foods Group Inc., which has offices in Cherry Hill, but backed out of that deal in favor of the Tyson offer.

Hillshire said it made the move in order for its $7.75 billion proposed deal with Tyson Foods Inc. to go through.

The final offer from Tyson ended up at $63 per share, but it was contingent on Hillshire not going through with its bid for Pinnacle Foods, which produces and distributes numerous branded food products, including Vlasic Pickles, Swanson frozen foods and Duncan Hines cake mixes.

Bloomberg said 13,407 calls traded on Campbell Monday, the most in eight months.

And while a takeover would need approval from family members who own more than 40 percent of Campbell's shares, the company is more affordable than 70 percent of its food-manufacturing peers, according to data compiled by Bloomberg.

Campbell said in July it will roll out its first organic ready-to-eat soups in January, when soup sales typically tend to rise as temperatures drop.

It's one of many moves the 145-year-old company is planning in hopes of driving sales in its flagship unit, which has suffered amid the proliferation of competing brands and the ready-to-eat soups sold in the hot food areas of supermarkets and elsewhere.

"Campbell Soup is a Camden institution and regardless of who owns the organization the assets and value of the company will stay in the city because their corporate commitment is unwavering," said Camden County Freeholder Director Louis Cappelli.

"The foundation of what makes them successful and attractive to the marketplace is based inside its Camden campus."

Reach Joe Cooney at (856) 317-7830 or jcooney@courierpostonline.com. Follow on Twitter @cp_JoeCooney.