Soup Brand Ownership: Campbell's and Its Rivals

For most of its 155-year history, Campbell Soup Company was defined by one product category. In late 2024, the company officially dropped "Soup" from its corporate name, rebranding as The Campbell's Company, to reflect a portfolio where packaged snacks and premium sauces generate as much revenue as the canned soup lines that made the brand famous. The move is a clean marker of how dramatically the packaged food industry has changed since Andy Warhol made the red-and-white can famous in 1962.

The soup category itself has not disappeared; it remains a multi-billion dollar market with a variety of corporate owners. But the Campbell's brand story, and the ownership picture of soup brands more broadly, reveals how traditional food categories are being repositioned, diversified, and in some cases revitalized through premium acquisition.

The Campbell's Company: From Soup to Snacks and Sauces

The Campbell's Company (NASDAQ: CPB) was founded in Camden, New Jersey in 1869 by Joseph Campbell and Abraham Anderson. The company pioneered canned condensed soup and built one of the most recognizable consumer brands in American history.

Today, The Campbell's Company describes itself as a portfolio of 16 leadership brands. The shift to "The Campbell's Company" from "Campbell Soup Company" reflects a portfolio where the flagship Campbell's soups are one segment among many.

The company's current brand portfolio spans two primary divisions:

• Campbell's (condensed and ready-to-serve soups, gravies, pasta sauces)
• Chunky (ready-to-serve soup)
• Pacific Foods (organic and natural soups and broths)
• Swanson (broth products)
• Prego (pasta sauce)
• Pace (salsa and Mexican sauces)
• Rao's Homemade (premium pasta sauce and soups)
• V8 (vegetable juices)

• Pepperidge Farm (cookies, crackers, breads)
• Goldfish (fish-shaped crackers, one of The Campbell's Company's three $1 billion brands)
• Lance (sandwich crackers)
• Cape Cod (kettle potato chips)
• Kettle Brand (premium potato chips)
• Late July (organic snacks)
• Snyder's of Hanover (pretzels)
• Pop Secret (microwave popcorn)

The most strategically significant recent addition to the portfolio is Rao's Homemade. The Campbell's Company acquired Rao's in 2023 for approximately $2.7 billion, significantly above any prior revenue multiple for a packaged sauce brand. Rao's was founded in 1992 and built a cult following as a premium pasta sauce. Campbell's management has identified Rao's as a potential fourth $1 billion brand, with the company targeting double-digit net sales growth through fiscal year 2026 via capacity additions and new product adjacencies.

The company changed its name in late 2024, with shareholders voting overwhelmingly to approve "The Campbell's Company" to replace "Campbell Soup Company." The renaming was primarily symbolic but signaled the strategic shift away from soup as the portfolio's defining identity.

Progresso: The General Mills Soup Brand

The other major branded soup in US supermarkets is Progresso, which is owned by General Mills (NYSE: GIS), one of the world's largest food companies.

Progresso was founded in New Orleans in 1905 by an Italian immigrant family, originally producing Italian food products for the Italian-American community. The brand expanded into canned soup and became a national brand over the following decades. General Mills acquired Progresso in 1996 as part of its acquisition of the Pillsbury Company's soup business.

Under General Mills, Progresso has been positioned primarily against Campbell's in the ready-to-serve soup segment. The brand generates estimated annual revenues in the range of $400 to $600 million, making it the second-largest branded soup in the US market.

General Mills has invested in the Progresso brand's "lighter" and reduced-sodium positioning, targeting health-conscious consumers who have driven a broader shift toward lower-sodium packaged foods.

Knorr: Soup in the Unilever Portfolio

Knorr is the world's largest soup and culinary brand by global sales, owned by Unilever (LSE: ULVR; NYSE: UL). Founded in 1838 by Carl Heinrich Knorr in Heilbronn, Germany, the brand was acquired by CPC International (later Best Foods) and ultimately became part of Unilever in 2000 when Unilever acquired Bestfoods for approximately $24 billion.

Knorr products include bouillon cubes, powdered soups, packet soups, and ready-to-cook meal kits, and the brand operates in approximately 80 countries. Knorr is significantly larger than Campbell's by global revenue across its full product range.

As of 2025, Knorr's status within Unilever's portfolio is notable context. Unilever completed the sale of its tea business (Lipton, PG Tips) in 2022, and the company has continued to review its food portfolio for strategic fit. Knorr has been identified as a growth priority for Unilever's Foods & Refreshment division, and the company has invested in Knorr's sustainability positioning, including regenerative agriculture sourcing programs.

The Premium Soup Segment

Premium and artisan soup has been among the fastest-growing segments in the packaged food market. Several brands occupy this space with different ownership profiles.

Pacific Foods is now owned by The Campbell's Company. Campbell's acquired Pacific Foods in 2017 for approximately $700 million. Pacific Foods was founded in 1987 in Tualatin, Oregon as an organic food company, making it one of the earlier acquisitions of a natural food brand by a major soup company.

Amy's Kitchen is a premium organic soup brand that remains independently owned. Founded in 1987 in Petaluma, California by Andy and Rachel Berliner, Amy's Kitchen has maintained private family ownership through decades of growth. The company's revenues are estimated at approximately $600 million annually, making it one of the largest independently owned natural food companies in the United States.

Kettle & Fire is a bone broth and premium soup brand that operates as a direct-to-consumer and specialty retail brand, remaining independently owned since its founding in 2015.

Global Soup Brand Ownership Summary

Source: WhoBrands.com research and public company filings, as of April 2026.

Why Campbell's Diversified Beyond Soup

The diversification of The Campbell's Company away from its flagship category reflects a broader challenge in the canned soup segment. Per capita consumption of canned condensed soup in the United States has declined over several decades as consumer preferences have shifted toward fresh, refrigerated, and restaurant-sourced meals.

Campbell's management responded to this structural decline with a two-part strategy: premiumizing the soup portfolio (Pacific Foods acquisition, Rao's acquisition) while building a parallel snacks business that operates in faster-growing categories. The snacks division now represents approximately 55 percent of The Campbell's Company's revenue, with the Meals & Beverages division representing approximately 45 percent.

The Rao's acquisition is the most visible bet on soup's premium potential. Rao's pasta sauce commanded retail prices three to four times higher than comparable Campbell's branded sauces, demonstrating that premium positioning could drive significant value in traditionally commoditized packaged food categories. Campbell's management is now expanding Rao's into soups, frozen meals, and other adjacencies.

Frequently Asked Questions

Did Campbell Soup Company change its name? Yes. In late 2024, shareholders overwhelmingly approved renaming Campbell Soup Company as The Campbell's Company. The renaming reflects the portfolio's shift away from soup as its primary product category, with snacks and premium sauces now representing the majority of revenues.

Who owns Rao's Homemade? Rao's Homemade is owned by The Campbell's Company (NASDAQ: CPB). Campbell's acquired Rao's in 2023 for approximately $2.7 billion in one of the largest single-brand acquisitions in packaged food history.

Who makes Progresso soup? Progresso is owned by General Mills (NYSE: GIS). General Mills acquired the brand in 1996 and operates it as the primary alternative to Campbell's in the US ready-to-serve soup segment.

Is there a major independent soup brand? Amy's Kitchen is one of the largest independently owned soup brands in the United States. Founded in 1987 by the Berliner family in California, it remains privately held with estimated annual revenues around $600 million.

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Sources

1. The Campbell's Company. "Q2 Fiscal 2026 Earnings Report." March 2026. https://investor.thecampbellscompany.com 2. The Campbell's Company. "Shareholder Name Change Approval." https://www.thecampbellscompany.com/newsroom 3. General Mills. "Annual Report FY2025." https://investors.generalmills.com 4. Unilever. "Knorr Brand." https://www.unilever.com/brands 5. Amy's Kitchen. "About Amy's." https://www.amys.com/about-us 6. Pacific Foods. "About Pacific Foods." https://www.pacificfoods.com

All brand ownership data verified through WhoBrands.com's proprietary research methodology. Last updated: April 2026.