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The Campbell Soup Company plans to drop "Soup" from its corporate name after 155 years, CNN reports.
The company will be known as The Campbell's Company moving forward, putting an emphasis on its expanded portfolio. Campbell now owns several popular snack food brands including Goldfish, Snyder's of Hanover, Cape Cod, Pepperidge Farm and others and recently purchased Sovos Brand, which produces several Italian food brands, including Rao's sauces.
“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,” Campbell CEO Mark Clouse said in a statement obtained by CNN on Tuesday (September 11). The name change is subject to shareholder approval at the company’s annual meeting in November.
The change comes amid a recent shift in Campbell's business, with snack sales growing by 13%, while soup only grew 3%, in 2023. Several other legacy food companies are pivoting to focus on the snack market to gain a larger share after market research firm Circana valued it at more than $200 billion.
The firm projected that nearly half of Americans consume at least three snacks per day. Last month, Mars, which produces several popular candies including M&M's and Snickers, agreed to purchase Kellanova, which produces Cheez-Its and Pringles, as part of a deal valued at nearly $29 billion.
“Snacking is a large, attractive, and durable category that continues to grow in importance with consumers,” Kellanova said at the time of the deal via CNN.