Iconic company Campbell Soup drops soup name

Top executives at the 155-year-old Campbell Soup Company plan to change the iconic company’s name to The Campbell’s Company.

According to CEO Mark Clouse, the move is intended to better reflect Campbell’s growing product line, which currently includes sauces, snacks and beverages.

Investors are expected to vote on the name change at the company’s annual shareholders meeting in November.

While canned soup remains a major part of Campbell’s business, the company has tried to adapt to the changing market by acquiring other companies, such as Rao’s sauce maker Sovos Brands.

“We will always love soup and we will never lose sight of this critical business,” Clouse said at the company’s investor day. “But today, we are so much more than soup.”

In addition to its flagship product line, Campbell’s portfolio also includes other products such as Goldfish crackers, Cape Cod chips, V8 drinks and Prego sauces.

According to Clouse, Campbell only needs to keep soup sales up to meet its financial goals.

However, other executives noted that soup sales will benefit from the aging of the U.S. population, as older people eat soup more often.

Campbell was the first company to sell canned soup over a century ago.

The product served as inspiration for one of the most iconic pop art works by American artist Andy Warhol.

The company expects net sales to increase 9% to 11% in fiscal 2025.

Campbell’s management expects Goldfish crackers to be a key growth driver and to be Campbell’s largest brand by 2027.