Campbell Cooling on ‘Soup’ Name After More than a Century

On Sep 12, 2024

At an Investor Day at the Nasdaq MarketSite in New York City yesterday, Campbell Soup Company said it plans to change its name to The Campbell’s Company. The change, subject to shareholder approval at its annual meeting of shareholders in November, is part of Camden-based company’s new strategy and mission.

“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,” said Mark Clouse, Campbell’s president and CEO.

At the meeting, Campbell’s management team reviewed progress against the company’s transformation and outlined plans for the next era of accelerated growth.

“We are ready to turn the page and enter a new chapter where we build on Campbell’s transformed portfolio, strong team, and aligned and engaged culture with the goal to set the standard for performance in the food industry,” Clouse said.

Chris Foley, president, Snacks division, outlined the company’s potential for continued long-term growth and margin expansion in the division, supported by its elevated portfolio of leadership brands, a strong innovation pipeline, and an advantaged direct store delivery model that offers further scale opportunities.

“We have built the best snacks portfolio in faster growing and advantaged categories,” said Foley. “We expect to continue to grow these advantaged core businesses by pursuing best-in-class innovation and unlocking the full potential from our advantaged distribution network. Our strategy is designed to deliver margin expansion while making the necessary investments to fuel growth for the future in a sustainable manner. We could not be better positioned for leading the on-going growth and momentum in snacking.”

In its Meals & Beverages division, Mick Beekhuizen, president, Meals & Beverages division, shared how its portfolio of leadership brands is better positioned than ever to meet consumers’ needs with continued focus on quality, convenience and value. With the acquisition of Sovos Brands, which elevates and strengthens its highly advantaged portfolio, the division has a new growth trajectory for dependable and profitable growth, he said.

“Our Meals & Beverages transformation story is far from complete, as we challenge ourselves to unlock the potential of our portfolio of iconic and distinctive brands,” said Beekhuizen. “We intend to set the standard for performance in the center store through our compelling consumer engagement and exciting flavor-forward innovation, with Rao’s strengthening and solidifying our potential and elevating our overall portfolio.”

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