Campbell Soup Company aims to take the soup from its name
Campbell Soup Company held an Investor Day in New York City on 10 September 2024 where the company’s management team reviewed progress against the company’s transformation and outlined its plans for the next era of growth.
The company, which currently does business as Campbell’s, is aiming to set the standard for performance in the industry with a new strategy and new mission as well as a new name.
In order to reflect its transformed portfolio, the company intends to drop the ‘Soup’ from its name and change it to The Campbell’s Company.
Mark Clouse, Campbell’s President and Chief Executive Officer, commented on the name change, which will be subject to shareholder approval at the annual meeting of shareholders 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,” Clouse said.
It was noted at the meeting that while the company’s iconic soup remains an important part of the Meals & Beverages division, it is now a smaller portion of its transformed portfolio, which includes the acquisition of packaged food maker Sovos Brands.
If approved by stakeholders, the new name aims to open the company to broader growth for the brand, particularly in the ‘Snacks’ sector which has gained momentum.
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