A maker of soups, snacks, and simple meals behind familiar names like Campbell's condensed soups, Goldfish crackers, Pepperidge Farm, and Rao's pasta sauces. It was founded in 1869 in Camden, New Jersey, when a fruit merchant and an icebox maker teamed up to can tomatoes and vegetables; a nephew chemist later invented condensed soup, which made the cans cheaper to ship. The brand is so iconic that Andy Warhol painted its tomato soup can in 1962, cementing it in pop-culture history.
Campbell's prices $550M senior notes at 4.550% due 2031
On December 11, 2025, The Campbell's Company priced an offering of $550,000,000 aggregate principal amount of senior unsecured notes.
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The notes bear a fixed interest rate of 4.550% per annum and mature on March 21, 2031.
The notes were sold under an Underwriting Agreement dated December 11, 2025, with representatives including Barclays Capital Inc., BNP Paribas Securities Corp., BofA Securities, Inc., Citigroup Global Markets Inc., J.P. Morgan Securities LLC, and UBS Securities LLC.
The offering was made under Campbell's automatic shelf registration statement on Form S-3 (Registration No. 333-274048) filed with the SEC on August 17, 2023.
The notes were issued on December 15, 2025, under an indenture dated March 19, 2015, as supplemented, with Computershare Trust Company, N.A. and U.S. Bank Trust Company, National Association serving as trustees.
8.01 Other Events · 9.01 Financial Statements and Exhibits
Campbell's to acquire 49% of La Regina, producer of Rao's sauces, for $286M
The aggregate consideration is USD $286 million, with $146 million payable in cash at closing and $140 million payable on the first anniversary of closing.
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Campbell's subsidiaries agreed to acquire 49% of La Regina SPA and La Regina Atlantica, which produce all of Campbell's Rao's tomato-based pasta sauces.
The second tranche payment may be made in cash, unregistered Campbell's shares, or a combination, at Campbell's sole discretion, subject to a 19.9% ownership cap.
The transaction is expected to close subject to customary conditions, with a long-stop date of June 8, 2026, extendable by up to 30 business days.
Campbell's holds a call option and the sellers hold a put option on the remaining 51% of La Regina, exercisable over specified periods.
1.01 Entry into a Material Definitive Agreement · 3.02 Unregistered Sales of Equity Securities · 9.01 Financial Statements and Exhibits
Campbell's shareholders elect 12 directors and approve executive compensation at 2025 annual meeting.
All 12 director nominees were elected, with each receiving a majority of votes cast; Archbold D. van Beuren received the lowest support at 224,981,304 for and 22,955,733 against.
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The Campbell's Company held its Annual Meeting of Shareholders on November 18, 2025.
Shareholders ratified the appointment of PricewaterhouseCoopers LLP as independent auditor for fiscal 2026, with 263,209,145 votes for and 4,764,138 against.
The advisory vote on fiscal 2025 executive compensation was approved, with 245,005,925 votes for and 2,681,633 against.
Two non-binding shareholder proposals—on simple majority voting and a regenerative agriculture program report—were not approved, with the majority voting against both.
5.07 Submission of Matters to a Vote of Security Holders