Campbell’s Sells Pop Secret
Campbell Soup Company has sold off its Pop Secret popcorn business to Our Home, a better-for-you snack company.
Terms of the deal weren’t shared.
The privately owned Our Home includes such brands as Popchips, Should Taste Good, and Real Food From The Ground Up within its portfolio, and Pop Secret marks their entry into the microwave popcorn category.
Our Home is on a growth spurt, picking up the Sonoma Creamery cheese snack brand in May. It also acquired the RW Garcia and Good Health brands and several manufacturing facilities from Utz Brands earlier this year.
Our Home founder and CEO Aaron Greenwald said in a statement that Pop Secret carried significant multi-outlet consumption and widespread household recognition.
Campbell's Snack Focus
For Campbell’s, offloading the brand, which generated around $120 million in net sales in fiscal 2024, is the next step in their efforts to better focus their snacks business. The CPG acquired the Pop Secret brand in 2018 as part of its $6.1 billion acquisition of Snyder’s-Lance.
Campbell’s reported in June that its snack business was under pressure, particularly among lower- and middle-income consumers. However, the slowdowns were said by company leaders to be modest vs. other edible categories, with recovery expected over the next few quarters.
The No. 73 publicly owned consumer goods company reports its fiscal full-year results this week.
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