CAMDEN, NJ — Campbell Soup Co. held an Investor Day on Sept. 10 at the Nasdaq MarketSite in New York City to assess the company’s progress and transformation in addition to outlining plans for accelerated growth in the future.
Since 2019, the company has focused on shifting its portfolio, rebuilding its foundation and delivering on its commitments.
“For the last five years, we have been on a transformative journey to redefine our company,” said Mark Clouse, president and CEO of Campbell. “Our focused strategy has positioned us well and helped to solidify a foundation that has delivered consistent and dependable results. We are ready to turn the page and enter a new chapter where we build on Campbell’s transformed portfolio, strong team, and aligned and engaged culture with the goal of setting the standard for performance in the food industry.”
As part of its next phase of growth, the company is deploying a new name, strategy and mission to set the standard for performance in the industry. Subject to approval from shareholders, the company intends to change its name to “The Campbell’s Company.”
“This subtle yet important change retains the company’s iconic name recognition, reputation and equity built over 155 years while better reflecting the full breadth of the company’s portfolio,” Clouse said.
“We are ready to turn the page and enter a new chapter where we build on Campbell’s transformed portfolio, strong team, and aligned and engaged culture with the goal of setting the standard for performance in the food industry.”— Mark Clouse | president and CEO | Campbell Soup Co.
The new Set the Standard mission has five key pillars, including:
- Top Team: Foster an engaged and inclusive culture while building capabilities and developing leaders at all levels of the organization.
- Best Portfolio: Drive growth through 16 leadership brands that span across both Snacks and Meals and Beverages and represent 84% of enterprise sales and approximately 95% of the company’s segment operating earnings in fiscal year 2024.
- Winning Execution: Outperform the competition with an advantaged supply chain, stepped-up innovation capabilities, strong retailer relationships and effective deployment of new and evolving technology.
- Top-Tier Performance: Leverage the company’s top team, portfolio of best-in-class brands and operational capabilities to deliver strong revenue, earnings growth and operating cash flow.
- Lasting Impact: Build on Campbell’s legacy of impact by delivering measurable results against sustainability and community goals.
The Snacks division is expected to continue its long-term growth, supported by its elevated portfolio and direct store delivery model that offers further scale opportunities.
“We have built the best snacks portfolio in faster growing and advantaged categories,” said Chris Foley, president of Snacks at Campbell. “We expect to continue to grow these advantaged core businesses by pursuing best-in-class innovation and unlocking the full potential of our advantaged distribution network. Our strategy is designed to deliver margin expansion while making the necessary investments to fuel growth for the future in a sustainable manner. We could not be better positioned for leading the on-going growth and momentum in snacking.”
Following the acquisition of Sovos Brands, the Meals and Beverages division is positioned to meet consumer needs with a focus on quality, convenience and value.
“Our Meals and Beverages transformation story is far from complete, as we challenge ourselves to unlock the potential of our portfolio of iconic and distinctive brands,” said Mick Beekhuizen, president of Meals and Beverages at Campbell. “We intend to set the standard for performance in the center store through our compelling consumer engagement and exciting flavor-forward innovation.”
The company’s performance goals include:
- Growing organic net sales at approximately 2% to 3%
- Long-term adjusted EBIT growth of approximately 4% to 6%
- Delivering adjusted EPS growth of approximately 7% to 9% through fiscal year 2027
“Our execution and capabilities to enable top-tier performance have never been stronger,” said Carrie Anderson, CFO of Campbell. “With a refreshed long-term algorithm, we have a clear roadmap for multi-year top- and bottom-line expansion. Our investor proposition is compelling, with strong and growing internal cash flow generation, providing multiple paths to create shareholder value.”
