No soup for you, Campbell’s!
After 102 years, the iconic food firm has changed its name to represent better its expanding snack portfolio, which includes Snyder’s of Hanover, Pepperidge Farm, and others.
Campbell Soup Company will change its name to The Campbell’s Company pending shareholder approval in November.
“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 well-known ready-to-serve soups, Campbell’s owns various snack brands, including Goldfish, V8 Beverages, Cape Cod, and Pepperidge Farm.
The 155-year-old company recently acquired Sovos Brands, the manufacturer of famed Rao’s sauces.
Despite the prospective name change, Campbell’s does not intend to discontinue their renowned 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 increased by 13%, while Campbell’s soups increased by only 3%.
What do you think about the name change? Share your opinions in the comments.
