New York Times: Campbell's soup is reportedly in big financial trouble

Manuela Cardiga
Dec 01, 2018
05:05 A.M.

Devotees of Campbell's canned soups might be wise to buy a few cartons of their favorite flavor before the company discontinues the product.


For the last 200 years, Campbell's has become synonymous with soup. Whatever the favorite, from chicken noodle to the best selling tomato soup, Campbells is as American as apple pie and almost as popular.

On November 16, 2018, the New York Times revealed that Campbell's in deeply in the red with a corporate debt of $9 billion.


The drastic fall of canned soup sales prompted the company to diversify and buy up other companies in a bid to remain profitable.


The mounting debt has shareholders battling for control of the company, and to implement some much-needed changes to the famous Campbell soups - from recipes to the traditional red and white label.


Putting the squeeze on the Dorrance family who owns 40% of Campbell's, is Daniel Loeb. Loeb is a worth $3.1 billion, and he runs Third Point, a hedge fund that holds 7% of Campbell's stock. Loeb advocates radical changes across the board to make Campbell's profitable and viable.


The mounting debt has shareholders battling for control of the company, and to implement some much-needed changes to the famous Campbell soups - from recipes to the traditional red and white label.



Faced with Loeb's determination to evolve the company and the product, the Dorrance family has agreed to two of the directors nominated by Third Point, and to allow the hedge fund a say in the nomination of the next CEO.

If the new board of directors decides that Campbell's Soup is no longer viable, Americans can bid a sad farewell to one more fond childhood memory.



It may come to pass that future generations will have to take a stroll through MoMA to catch a glimpse of the iconic Campbell's Soup can.

Luckily, controversial pop artist Andy Warhol used images from consumer culture in his art, and one of these immortalized objects was a can of Campbell's Soup.

“I used to drink it. I used to have the same lunch every day, for 20 years, I guess, the same thing over and over again.”

Andy Warhol

Campbell's Soups may be struggling to stay afloat, but Warhol's depictions of the iconic cans are a hot selling item.

Source: Getty Images/ Andy Warhol

Source: Getty Images/ Andy Warhol

In 2016, Warhol’s "Small Torn Campbell Soup Can" was sold at auction for a staggering $11,776,000 - a record for a painting from the Campbell Soup Can series.

$11,776,000 for a can of soup. What would Daniel Loeb say to that?

Please fill in your e-mail so we can share with you our top stories!
By subscribing, you agree to our Privacy Policy
Related posts

Gender Reveal Party Goes Awry as Husband Declares to Pregnant Wife He's Sterile – Story of the Day

November 07, 2023

Sofia Vergara Spotted on Date Night with Rumored Boyfriend Who ‘Looks a Lot Like’ Her Ex

November 08, 2023

Couple Adopts a 6-year-old Boy, Finds Him Nursing a Strange Baby in His Room the Next Day – Story of the Day

May 04, 2024

Judge Judy & Spouse Bought a Massive Home after Money Stopped Being a ‘Stressor’ for Their Family of 20 — Inside

November 22, 2023

Super Bowl Champion Matt Ulrich Passes Away While in ‘Peak Condition’ of His Health

November 08, 2023

Maria Bartiromo Has No Children & Hopes She Won't Regret It at Some Point in Her Life

November 05, 2023

I Found My Little Son Nursing a Strange Baby in His Room – Story of the Day

October 30, 2023

Father-in-Law Instantly Felt the Blow of Karma after Being Rude to Son's Wife

May 02, 2024

Dad Finds Out Teacher Mocked His Son at School after Finding an Offensive Note on His Test

January 23, 2024

Texas Surgeon & His 2 Young Children Found Dead: 'The Tragedy That This Family Has Endured Is Unimaginable'

January 17, 2024

4 Little Kids and Dad Found Dead Early in the Morning: 'Just Heartbreaking'

January 10, 2024

Ricky Nelson's Twins Were Left with $26 – They Didn't Have 'The Rosy Life' Everyone Thought Following Dad's Sudden Death

December 31, 2023

Queen Camilla Beams with Joy over Matching Valentine's Day Sweaters with Hearts for Her and King Charles

February 15, 2024

Boss Accused Me of Faking That I Have a Son & Got Me Arrested after I Asked For a Week off to Care For My Sick Kid

January 19, 2024