No soup for you, Campbell’s!
After 102 years, the iconic food company is changing its name to better reflect the company’s growing product line of snacks, which includes Snyder’s of Hanover, Pepperidge Farm, and more.
Subject to shareholder approval in November, Campbell Soup Company will become The Campbell’s Company.
“This subtle yet important change retains the company’s iconic name recognition, reputation and equity built over 155 years while better reflecting the full breadth of the company’s portfolio,” Campbell CEO Mark Clouse said Tuesday in a statement.
In addition to its iconic line of ready-to-serve soups, Campbell’s also owns several snack brands like Goldfish, V8 Beverages, Cape Cod, and Pepperidge Farm.
The 155-year-old company recently purchased Sovos Brands, the maker of the popular Rao’s sauces.
Despite the potential name change, Campbell’s has no intentions of getting rid of their iconic canned soup.
“We will always love soup, and we’ll never take our eye off of this critical business,” Mr. Clouse said during the company’s investor day. “But today, we’re so much more than soup.”
Last year the company’s snack sales grew by 13% while Campbell’s soups grew by a mere 3%.
What do you think of the name change? Let us know your thoughts in the comments.
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