Campbell’s is axing “soup” from its name
After more than 100 years, a few iconic pieces of art, and well over 20 billion cans of tomato soup, Campbell’s has decided it’s high time for a rebrand. The 155-year-old company, which officially became the Campbell Soup Company in 1922, is cropping the middle section of its name, as the brand continues to shift away from the product that made it famous.
The Campbell's Company, as it will now be officially known, has built out its snack portfolio to make up a very healthy chunk of the business in recent years, with its popular Goldfish crackers as a key growth driver. In 2018, Campbell acquired Snyder’s-Lance (the company behind Kettle Chips and Snyder’s of Hanover) for ~$6.1 billion, and it’s been making most of its money from its snack division ever since, with snacks contributing $4.6 billion, or almost 50%, of the company’s sales in 2023.
Soup sales, by comparison, have gone a little cold over the same period: in 2015, the company’s famous cans added $2.8 billion to the top line, 8 years later it notched $2.7 billion.
The Campbell's Company, as it will now be officially known, has built out its snack portfolio to make up a very healthy chunk of the business in recent years, with its popular Goldfish crackers as a key growth driver. In 2018, Campbell acquired Snyder’s-Lance (the company behind Kettle Chips and Snyder’s of Hanover) for ~$6.1 billion, and it’s been making most of its money from its snack division ever since, with snacks contributing $4.6 billion, or almost 50%, of the company’s sales in 2023.
Soup sales, by comparison, have gone a little cold over the same period: in 2015, the company’s famous cans added $2.8 billion to the top line, 8 years later it notched $2.7 billion.
