Campbell Soup Company Adapts to Increasing Demand
A few days ago, we shared the impacts of “panic buying” on the agricultural industry and its supply chains. Taking a look inside Newday’s portfolio, we want to highlight one of our own companies that is responsibly managing procurement and demand complexities during this tumultuous time: the Campbell Soup Company.
Canned soup is the iconic namesake of Campbell, but the company also controls several other of the world’s most recognizable food brands, including Goldfish crackers, Plum Organics baby food, Cape Cod and Kettle Brand chips, Swanson and Pacific Foods cooking broths, and Snyder’s pretzels. Between people loading up on affordable quarantine snacks, stacking their pantries with shelf-stable staples, and donating simple meals to those in need, demand for Campbell’s products continues to climb amidst the COVID-19 crisis. According to the company’s most recent SEC filing, one weekly case order in March was up 366% from that of March 2019.
Given surging demand, Campbell is successfully navigating recent market woes. The company has proved itself resilient during these trying times by nimbly feeding the nation’s need for non-perishing goods. Even after initial product hoarding, Americans will likely continue to shop thriftily in the coming months and throughout 2020. Current economic uncertainty could convert many shoppers into loyal Campbell customers.
Campbell isn’t hoarding its luck, however; the company is sharing its good fortune by giving back. Pledging to donate $1 million in March, Campbell has since donated $2.5 million to their immediate and surrounding communities. Their contributions include the distribution of food to dozens of organizations and food banks, along with computers to New Jersey students in their headquarters in Camden, New Jersey. Additionally, their foundation is awarding Community Impact Grants to local nonprofits building resiliency against the pandemic.
In addition, advanced cleaning procedures and health screenings have been implemented in Campbell’s facilities to maintain a safe environment for employees. Campbell is also extending premium payments to thousands of front-line team members that are working through the crisis in recognition of their camaraderie and personal sacrifices to serve others.
You can find Campbell Soup Company in our Sustainable Agriculture portfolio.