Campbell’s Soup has been a common item in American kitchens for almost 200 years, but it might be facing closure soon.
This tough situation is mainly because people are now choosing more natural and unprocessed foods instead of Campbell’s usual processed soups. To keep up with these changes, Campbell’s has bought other companies, which has resulted in a heavy debt of $9 billion.
The company is facing more problems due to a fight for control inside. The Dorrance family, which owns 40% of Campbell’s shares, is in conflict with Daniel Loeb from Third Point, who has about 7% of the stock. Loeb wants big changes, like rebranding and redesigning Campbell’s famous red and white cans, which has led to legal battles over claims of mismanagement.
Recently, Campbell’s decided to bring on two directors suggested by Third Point, hinting that changes might be coming as the company tries to stay afloat.
