- Snack sales up 13%, soups just 3%
- Bought Sovos Brands (Rao’s sauces)
- Snack market worth over $200 billion
Campbell Soup Company is shedding its 155-year-old “soup” identity, rebranding as The Campbell’s Company to reflect its growing focus on snacks and a broader food portfolio. This change comes as the company’s snack sales surged by 13% last year, outpacing its 3% soup growth. Campbell’s has also expanded by acquiring Sovos Brands, including Rao’s sauces, as it aims to capture a larger share of the $200 billion snack market. The rebrand is subject to shareholder approval at its November meeting.
This move shows Campbell’s adaptation to evolving consumer habits, emphasizing the growing importance of snacks.
