Campbell’s Soup, a staple in American kitchens for nearly 200 years, might soon be discontinued.
This disastrous situation is mostly due to consumers’ growing preference for natural, unadulterated foods over Campbell’s regular manufactured items.
In an effort to adapt, Campbell’s made purchases to diversify its holdings, which led to a debilitating $9 billion debt load.
The company’s issues are being exacerbated by an internal power struggle. Third Point’s Daniel Loeb is at odds with the Dorrance family, who own 40% of Campbell’s stock.
who holds nearly 7% of the business’s stock. Loeb’s demands for significant changes, including as rebranding and altering Campbell’s iconic red and white cans, have triggered legal disputes over alleged mismanagement.
The recent agreement by Campbell’s to select two directors that Third Point suggested raises the possibility of future changes as the company struggles for survival.
