After 155 years, Campbell’s Soup is changing its name

(LOOTPRESS) – The iconic Campbell Soup Company, known for its 155-year history, plans to drop “soup” from its name, rebranding as The Campbell’s Company to better reflect its growing focus on snack products. The rebranding comes as consumer preferences increasingly shift towards snacks, prompting the company to diversify its portfolio beyond its traditional soup offerings.

In recent years, Campbell has expanded its range by acquiring several popular snack brands, including Goldfish, Snyder’s of Hanover, Pepperidge Farm , and most recently, Sovos Brands , which produces the Italian food favorite Rao’s sauces . This strategic move is part of a broader trend among legacy food companies to capture a larger share of the booming snack market, which is valued at over $200 billion.

“While soup remains an important part of our heritage, this change reflects the broader range of products we now offer,” Campbell CEO Mark Clouse said in a statement. The rebranding decision is expected to be voted on by shareholders at the company’s annual meeting in November.

Campbell’s snack sales have surged in recent years, growing by 13% in 2023 compared to a modest 3% growth in its soup division, underscoring the importance of the snacking category. This shift mirrors the broader industry trend, with major food companies like Mars also expanding into snacks through acquisitions like the recent $29 billion purchase of Kellanova , the owner of Cheez-Its and Pringles .

The name change is part of Campbell’s strategy to align with evolving consumer behaviors, as nearly half of Americans report eating at least three snacks a day, according to market research from Circana.