NEW YORK — Campbell is ready to drop the soup — at least from its official name.
Campbell Soup Co. announced its intention to change its name at an annual meeting of investors on Tuesday. The 155-year-old food seller, which is most famous for its namesake canned soups, says it would now like to be known as Campbell’s Co.
Chief Executive Officer Mark Clouse said in a statement that this “subtle yet important change” will retain the company’s iconic name “while better reflecting the full breadth” of its portfolio today.
NAME CHANGE Cans of Campbell’s soup are displayed in a supermarket on March 25, 2021, in New York. The 155-year-old soup maker on Tuesday announced its plan to drop the word ‘soup’ from its name. AP PHOTO
Campbell has not been exclusive to the soup business for some time. The company also owns brands like Prego sauce and Goldfish crackers — and completed a $2.7-billion acquisition of Sovos Brands, the maker of Rao’s pasta sauces, just earlier this year.
Campbell’s roots date back to 1869, as a modest operation out of New Jersey that later grew. The current Campbell Soup name was adopted in 1922, according to the company’s website.
The new name is not final yet, as it is still subject to a shareholder approval vote in November. But the New Jersey company is far from the first to attempt such a makeover. A handful of other food companies have also rebranded themselves over the years — often shedding the mention of specific items they were known for with shorter corporate titles, or even an updated logo, in hopes of emphasizing other business.
Manoj Thomas, a marketing professor at Cornell University’s SC Johnson College of Business, says that it is important to consider whether a new name will disrupt product recognition or stray from a brand’s identity. But he does not see these risks with Campbell — noting that the move is “unlikely to affect consumer perception” and may instead signal a “drive for expansion and growth.”
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