Campbell Soup Drops Fresh Division After Losing Money

Campbell announced Thursday that it is selling its international and fresh food businesses. After disappointing years from both divisions, with the fresh food business operating at a loss in 2017, Campbell has decided to let those units go. Overall, earnings over the past four years have been consistent, with the only drag coming from Campbell Fresh in 2017.

CEO Denise Morrison attempted to branch out into healthier and fresh foods with these units, but the company has decided to go back to its 149-year-old roots as a snacks, packaged meals, and beverage company. Morrison departed from the company in May after disappointing earnings, with the firm conducting further reviews of senior executives going forward.