Campbell Soup Company Changes Its Name After 155 Years
Story by Ángeles Acosta MSN
The decision to rebrand is part of the company's broader efforts to expand and shift its focus towards snacks and other jarred sauces, beyond just soups.
"This subtle yet significant change preserves the iconic company's name recognition, its reputation, and the value built over 155 years, while better reflecting the breadth of the company's portfolio," Clouse said in a statement.
What will the new name be? Shareholders voted on the name change at the annual meeting in November.
In recent years, Campbell has significantly diversified its offerings. In addition to its classic soups, the company now owns a range of popular snack brands, including Goldfish, Snyder's of Hanover, Cape Cod, and Pepperidge Farm. Additionally, Campbell recently acquired Sovos Brands, the maker of Rao's sauces.
Clouse acknowledged the importance of soups to Campbell's identity but emphasized the company's broader focus. "We will always love soups and never lose sight of this very important business," he stated. "But today, we are much more than soups."
Campbell's sales also reflect a consumer preference for non-soup products. Snack sales grew by 13% last year, while soup sales saw a modest increase of 3%. This trend reflects a broader shift among consumers away from ready-to-serve soups towards more convenient snack options. The company expects its snack brands, particularly Goldfish, to become a major growth driver, potentially surpassing its traditional soup offerings by 2027.
No comments:
Post a Comment