Campbell’s Soup Gets Some Terrible News – Stock Up While You Can

Campbell’s soup has been around for almost two hundred years, and it is one of the most beloved brands in soup today.

It is effectively an American institution, which is why so many people are devastated right now after it was reported that Campbell’s may be shutting down.

The stakeholders of Campbell’s just got into a massive fight that resulted in various financial facts about the company coming to light.

Over the past few years, the majority of Americans have been moving away from processed foods in favor of choosing more natural options.

When their sales went down, Campbell’s started buying up other companies to try and diversify, but this turned out to be a huge mistake. Now, the company has found itself $9 billion in debt.

Dorrance family, who own 40% of the shares, does not want to change their business at all. Hedge fund manager Daniel Loeb runs Third Point, which owns about 7% of Campbell’s stocks, has been desperately trying to convince Campbell’s to make a series of changes that include changing the brand from recipes to logos and ditching the iconic red and white cans.

When the family refused to make any changes, Loeb filed a lawsuit against the company for mismanagement and, in an open letter, accused them of “waste, ill-conceived strategy and inept execution.” Campbell’s responded by calling Loeb “unoriginal and uninformed.”

Third Point expressed interest in restructuring the board, and earlier this week, the two sides were able to agree on two of the five suggested directors from Third Point to be hired to the board.

This could mean that more changes could be on the way for Campbell’s, and they may have to make these changes if they want to survive.

Related Posts

Bill Clinton with tears in their eyes make the sad announcement…

Former President Bill Clinton, with tears in his eyes, stood before the cameras today to deliver a heartbreaking announcement that left the nation in shock. His voice…

I Saw My Husband Cheating on Me with My Friend on His Birthday — My Mother Made a Perfect Plan to Get Back at Him

When you’re in love, you trust the person that you’re with. That’s how it’s supposed to work, right?             I mean, that’s…

I Found Out My Husband Owns a Secret Apartment – When My Friend & I Went There, We Were Left in Pure Shock

My husband, Adam, goes on a trip with our son and his brother to visit their mom, right? So, I’m just cleaning up the den when an…

My MIL Hid My Passport So I Couldn’t Join the Family Vacation

I swear, I almost didn’t go on that Aruba trip. Not because I didn’t want to. Oh, I desperately wanted to. But because someone else decided I…

My Cheating Husband Made Me Sign over My Business to Him – He Had No Idea It Was Part of My Revenge Plan

The morning light streamed through our bedroom windows as I buttoned up my blouse, watching Ethan knot his tie in the mirror. Even after five years of…

My Stepmother ‘Gifted’ Me an Old, Smelly Couch — When She Saw What I Did With It, She Demanded $2,500 From Me

Ever have one of those moments where you should’ve just trusted your gut? Yep, that was me, standing in my stepmother’s basement, staring at the ugliest, smelliest…

Leave a Reply

Your email address will not be published. Required fields are marked *