Campbell Soup dropping ‘soup’ in name — here’s why

Campbell Soup is rebranding itself as 'The Campbell's Company' to reflect its expansion beyond soup into a broader range of packaged foods, including jarred sauces and snacks. CEO Mark Clouse announced this change during an investor day, emphasizing the company's focus on 16 key brands, such as Goldfish, V8 beverages, and Prego sauces. This strategic pivot comes as the company aims to adapt to changing consumer preferences and market dynamics. Historically, Campbell's was a pioneer in canned soup, a product that has been a staple for over a century. The company has also been part of cultural moments, notably through Andy Warhol's pop art. Despite this rich legacy, the company recognizes the need to diversify its offerings to remain competitive in a challenging market. Clouse noted that while soup sales are expected to remain stable, there is potential for growth as the aging U.S. population tends to consume more soup. The company is particularly optimistic about its Goldfish snacks, projecting them to become its largest brand by the 2027 fiscal year. This shift in focus is part of a broader strategy to enhance profitability amid rising input costs and changing consumer behavior. The company plans to seek shareholder approval for the name change at its upcoming annual meeting. As Campbell's navigates these changes, it faces challenges such as inflation and shifting consumer demand, which have impacted sales across the industry. The company remains committed to adapting its strategies to meet these evolving market conditions.