Campbells Causes a Stir: GCSE Business In The News

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What's the story?

Campbell Soup Company plans to rename itself The Campbell's Company, executives announce.

Campbell's, a 155-year-old company known for its soups, is planning a significant rebranding.

The proposed name change to ‘The Campbell's Company’ reflects its diversification into snacks, sauces, and beverages.

CEO Mark Clouse emphasised that while soup remains crucial, Campbell's has evolved considerably. The company's product portfolio now includes popular brands like Goldfish crackers, Cape Cod crisps, V8 beverages, and Prego sauces.

Recent takeovers, such as Sovos Brands (maker of Rao's sauces), further demonstrate this diversification strategy.

Executives believe that maintaining stable soup sales, combined with growth in other segments, will help to meet financial targets. An aging US population may actually benefit soup sales.

Campbell's is particularly optimistic about its Goldfish crackers brand, expecting it to become their top-selling product by 2027.

The proposed name change will be put to a shareholder vote in November, marking a potential new chapter for the company that pioneered canned soup over a century ago.

Campbells causes a stir