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Campbell Soup Company, known as CPB, is a prominent manufacturer and marketer of high-quality, branded food and beverage products . The company operates through two main segments: Meals & Beverages and Snacks, offering a wide range of products from soups and sauces to snacks and bakery items . CPB's products are distributed through various channels, with Wal-Mart Stores, Inc. being its largest customer, accounting for a significant portion of its sales in 2024 .
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Meals & Beverages - Offers a diverse range of products including Campbell’s condensed and ready-to-serve soups, Swanson broth and stocks, Pacific Foods broth, soups and non-dairy beverages, Prego pasta sauces, Pace Mexican sauces, Campbell’s gravies, pasta, beans and dinner sauces, Swanson canned poultry, V8 juices and beverages, and Campbell’s tomato juice . Following the acquisition of Sovos Brands in March 2024, this segment also includes Rao's pasta sauces, dry pasta, frozen entrées, frozen pizza and soups, Michael Angelo's frozen entrées and pasta sauces, and noosa yogurts .
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Snacks - Comprises a variety of snack products such as Pepperidge Farm cookies, crackers, fresh bakery and frozen products, including Goldfish crackers, Snyder’s of Hanover pretzels, Lance sandwich crackers, Cape Cod potato chips, Kettle Brand potato chips, Late July snacks, and Snack Factory pretzel crisps . The segment included the Pop Secret popcorn business until its sale in August 2024 .
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Mark A. Clouse ExecutiveBoard | President and Chief Executive Officer | None | CEO since 2019, previously CEO of Pinnacle Foods and held leadership roles at Mondelēz and Kraft Foods. Graduated from West Point with a degree in Economics. | |
Anthony J. Sanzio Executive | EVP and Chief Communications Officer | None | Chief Communications Officer since 2022, no additional details on prior roles within CPB. | |
Carrie L. Anderson Executive | Executive Vice President and CFO | Board Member at Embecta Corp | CFO since 2023, previously CFO at Integra LifeSciences and held finance roles at Dover Corporation and Delphi Corporation. | |
Charles A. Brawley Executive | EVP, General Counsel, and Corporate Sec. | None | General Counsel since at least 2024, no additional details on prior roles within CPB. | |
Christopher D. Foley Executive | EVP and President, Snacks | None | President of Snacks since 2019, contributed to CPB's strong financial growth in fiscal 2023. | |
Daniel L. Poland Executive | EVP and Chief Supply Chain Officer | None | Joined CPB in 2022, previously COO at KIND Snacks and EVP at Pinnacle Foods. Granted $1.7M restricted share award in 2024. | |
Diane Johnson May Executive | EVP and Chief People and Culture Officer | None | Joined CPB in 2022, previously held HR leadership roles at Manpower Group, Brookdale Senior Living, and The Deli Source. | |
Mick J. Beekhuizen Executive | President and CEO (effective Feb 2025) | None | Joined CPB in 2019 as CFO, later President of Meals & Beverages, and led the $2.7B Sovos Brands acquisition. Previously CFO at Chobani. | View Report → |
Archbold D. van Beuren Board | Independent Director | Vice Chairman of Brandywine Trust Group | Director since 2009, former CPB executive. Retired as President-Global Sales and Chief Customer Officer in 2009. | |
Bennett Dorrance, Jr. Board | Independent Director | Managing Director of DFE Trust; President of Dorrance Family Foundation | Director since 2022, involved in philanthropy and sustainable initiatives. President of Dorrance Family Foundation and Managing Director of DFE Trust. | |
Fabiola R. Arredondo Board | Independent Director | Managing Partner at Siempre Holdings; Director at FICO and Burberry plc | Director since 2017, brings expertise in digital technology and media. Managing Partner of Siempre Holdings and serves on boards of FICO and Burberry. | |
Grant H. Hill Board | Independent Director | Co-owner/Vice Chairman of Atlanta Hawks; Managing Director of USA Basketball | Director since 2021, former NBA player and co-owner of Atlanta Hawks. Managing Director of USA Basketball and involved in real estate and investment ventures. | |
Howard M. Averill Board | Independent Director | None | Director since 2017, Chair of the Audit Committee. Former CFO of Time Warner Inc. and Time Inc.. | |
Keith R. McLoughlin Board | Independent Director | None | Director since 2016, served as interim CEO in 2018-2019. Former CEO of Electrolux AB and board member of Briggs & Stratton Corp. | |
Kurt T. Schmidt Board | Independent Director | None | Director since 2018, extensive experience in food and beverage industry. Former CEO of Blue Buffalo and senior leader at Nestlé. | |
Marc B. Lautenbach Board | Independent Director | None | Director since 2014, former CEO of Pitney Bowes and senior leader at IBM. | |
Maria Teresa Hilado Board | Independent Director | Director at Zimmer Biomet and Galderma | Director since 2018, Chair of Finance and Corporate Development Committee. Former CFO of Allergan and PepsiCo Treasurer. | |
Mary Alice D. Malone Board | Independent Director | President of Iron Spring Farm | Director since 1990, descendant of CPB's founder. President of Iron Spring Farm and active in philanthropy. | |
Sarah Hofstetter Board | Independent Director | President of Profitero | Director since 2018, expert in digital marketing and e-commerce. President of Profitero and former CEO of 360i. |
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Given the strong momentum of Rao's among millennial households despite its premium pricing, how can you leverage learnings from Rao's to apply to other parts of your portfolio, and are there opportunities to drive similar value propositions with other brands?
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With the second half earnings growth guidance being higher than some investors might be comfortable with, are there any unusual timing benefits or tailwinds we should consider, and how confident are you in achieving this guidance given current market conditions?
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Considering the modest increase in full-year marketing and promotional investment, particularly in Q2 to support the holiday period, how does your current promotional spending compare to pre-pandemic levels, and could this increased activity impact your margins?
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Gross margin and marketing expenses came in below expectations; can you explain how these components of EBIT margin performed versus your own projections, and what measures are you implementing to address any variances?
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With Snacks margins at 13.3% this quarter, lower than expected, and facing pressures from pricing and supply chain inflation, can you still achieve your margin targets for this year and your longer-term goal of 17% margins in Snacks, especially if the category requires a value correction post-pandemic?
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Sovos Brands, Inc. | 2024 | Campbell Soup Company acquired Sovos Brands for approximately $2.899 billion at $23.00 per share, funded with a $2 billion Delayed Draw Term Loan Credit Agreement and cash, to strengthen its premium Meals & Beverages portfolio with brands such as Rao’s, Michael Angelo’s, and noosa and to drive future growth and synergies. |
Snyder’s-Lance | 2018 | Campbell Soup Company acquired Snyder’s-Lance for $6.112 billion at $50.00 per share, including a $1.1 billion indemnification of debt, financed via a senior unsecured term loan and senior notes, with strategic integration into the U.S. snacking segment as Campbell Snacks and targeted $295 million cost synergies. |
No recent press releases or 8-K filings found for CPB.