USA – Campbell Soup Co. has offloaded its Pop Secret popcorn brand to an independent food company, Our Home, for an undisclosed amount as the CPG giant looks to focus on its core brands and drive growth within its remaining product lines.
The purchase expands Our Home’s offerings which include Popchips, RW Garcia and Sonoma Creamery. Both Our Home and Campbell Soup are headquartered in New Jersey.
“This marks another step in our journey to strategically focus our Snacks portfolio. The sale of Pop Secret will drive greater focus and accelerated growth across our Snacks division and portfolio of leading brands,” said Chris Foley, executive vice president and President, Campbell’s Snacks.
The Pop Secret business generated net sales of approximately US$120 million in fiscal 2024, according to Campbell Soup.
Aaron Greenwald, founder and CEO of Our Home, said Pop Secret’s widespread consumption and recognition, “combined with the company’s extensive manufacturing capabilities, create a unique platform for growth and innovation in the market.”
The CPG company acquired the Pop Secret brand in 2018 as part of its $6.1 billion acquisition of Snyder’s-Lance.
AS Campbell continues to align its business to prioritize growth and increase its presence in categories such as snacking and premium items, the CPG has been adding and subtracting from its portfolio in recent years.
In March 2024, Campbell announced that it had finalised the acquisition of Sovos Brands for approximately US$2.7 billion.
The Sovos portfolio consists of food products including pasta sauces, dry pasta, soups, frozen entrées, frozen pizza and yogurts under the brand names Rao’s, Michael Angelo’s and Noosa.
Campbell said that the Sovos acquisition will add a “high-growth, market-leading premium portfolio” of brands to its meals and beverages division.
The purchase, the largest for Campbell Soup in six years, placed the 155-year-old company at a competitive presence in fast-growing premium sector.
In May 2023, Campbell’s sold the Emerald Nuts business to private label CPG manufacturer Flagstone Foods.
In selling Emerald, Campbell Soup divested its only nut-focused brand which stood out among the chips, popcorn, cookies, pretzels and crackers that make up the lion’s share of its snacking business.
The company continues to have nut offerings in its portfolio through its Lance brand and use them in products such as Pacific soups and milks.
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