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

Emotional Moment As Nun Breaks Tradition Beside Pope Francis’ Casket

One silent act of love won hearts all across the world in a moment that transcended the seriousness of Vatican tradition. One person acted inappropriately on April…

Dad of 4 Living in Tent Gives Last $2 to Stranger at Gas Station, Wakes up Owning…

Brandon, a homeless father, gave his last $2 to help an elderly man buy water for his pills. The man, touched by Brandon’s kindness, turned out to…

When My MIL Brought Her Towels and Sheets to Wash, I Found Out the Truth

Part 1: The Unexpected Discomfort My name is Claire, and for as long as I could remember, my life with my husband, Evan, had been relatively peaceful—at…

I Returned Home from Work to Find My Adopte

Thirteen years ago, Ruth’s world shattered when her husband Andrew died in a car crash — and she learned he had been living a secret double life,…

Old Men Sitting On A Bench

Two old men are sat on a bench at the park. A young, smoking hot girl runs past in a sports bra and a tiny pair of…

BRILLIANT WIFE!! (FUNNY STORY)

Brilliant Wife! (Funny Story) A wife finds a note from her husband on the fridge one morning: Husband’s Note “My dear wife, You will surely understand that…

Leave a Reply

Your email address will not be published.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