Iconic firm Campbell Soup set to drop soup from name
The company's soup cans have served as inspiration to pop artist Andy Warhol
- Published
Top executives at the 155-year old Campbell Soup Company plan to change the iconic firm's name to The Campbell's Company.
Chief executive Mark Clouse said the move aims to better reflect Campbell's growing product line, which currently also includes sauces, snacks and beverages.
Investors are set to vote on the name change at the company's annual meeting in November.
While canned soup remains a key part of the Campbell's business, the company has sought to adapt to a changing market by acquiring other businesses such as Rao鈥檚 sauces maker, Sovos Brands.
鈥淲e will always love soup, and we鈥檒l never take our eye off of this critical business,鈥 Mr Clouse said during the company's investor day. 鈥淏ut today, we鈥檙e so much more than soup.鈥
In addition to its most famous line of products, Campbell's portfolio includes other offerings such as Goldfish crackers, Cape Cod crisps, V8 beverages, Prego sauces.
Mr Clouse said Campbell will only need its soup sales to remain stable for the company to meet its financial targets.
Other executives noted, however, that soup sales are set to benefit from an aging population in the US, as older people are more likely to eat soup.
Campbell was the first company to sell canned soup more than a century ago.
The product served as inspiration for one of American artist Andy Warhol's most iconic pop art works.
The company estimates its net sales will rise between 9% and 11% in its 2025 fiscal year.
Campbell's leaders expect its Goldfish crackers to be a key driver of growth and to ultimately become its largest brand by 2027.