Campbell's will no longer include 'Soup' in its name.

The Campbell Soup Company, which has been in business for over a century and a half, has announced its plans to drop the word "soup" from its corporate name. Instead, it will now be known as The Campbell's Company. This change comes as more and more consumers are moving away from traditional ready-to-serve soups and towards snacks. In order to stay relevant and meet the demands of its customers, the company has been acquiring other food lines, including popular brands like V8 Juice, Prego pasta sauces, Goldfish, and Snyder's of Hanover.

Recently, Campbell also made a major purchase by acquiring Sovos Brands, which is well-known for its delicious Italian food offerings such as Rao's sauces. This shift in focus towards snacks is not limited to the US market, as the Australian and New Zealand branches of the company are also planning to follow suit. According to Campbell CEO Mark Clouse, this change in the company's name is a subtle yet important one. It allows them to maintain the iconic name and reputation they have built over the years, while also better reflecting the wide range of products they now offer.

The decision to rebrand was made after careful consideration and will be put to a vote for shareholder approval at the company's upcoming annual meeting in November. While soup continues to be an important part of Campbell's business, it now accounts for a smaller portion of their overall sales. In the past year, the company's snack sales have grown by 13%, while soup sales have only seen a 3% increase. This trend is not unique to Campbell, as other legacy food companies are also shifting their focus towards the growing snack market, which is valued at over $200 billion in the US alone, according to market research firm Circana.

It seems that Americans are snacking more than ever, with nearly half of them admitting to having at least three snacks a day. This could explain the recent acquisition of Kellanova, the parent company of popular snack brands like Pringles and Cheez-Its, by Mars for a staggering $29 billion. In a statement, Kellanova acknowledged the importance of snacking as a large and continuously growing category that is gaining more and more significance among consumers. With this major shift in the food industry, it will be interesting to see how Campbell and other companies adapt to stay competitive in the ever-changing market.

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