Campbell Soup sold its Pop Secret popcorn brand to an independent food company for an undisclosed amount as the CPG giant looks to focus its snacking portfolio.
The brand was purchased by Our Home, which makes offerings such as Popchips, RW Garcia and Sonoma Creamery. Both Our Home and Campbell Soup are headquartered in New Jersey.
Pop Secret generated net sales of approximately $120 million in fiscal 2024, according to Campbell Soup.
“This marks another step in our journey to strategically focus our Snacks portfolio,” Chris Foley, president of Campbell’s Snacks, said in a statement. “The sale of Pop Secret will drive greater focus and accelerated growth across our Snacks division and portfolio of leading brands.”
Similar to other food companies, Campbell Soup has been adding and subtracting from its portfolio in recent years to prioritize growth and increase its presence in categories such as snacking and premium items. In March, it closed on its $2.7 billion purchase of Rao’s pasta sauce parent Sovos Brands. And in 2023, it sold its Emerald nuts business to private-label food manufacturer Flagstone Foods.
Emerald and Pop Secret were added to Campbell after it purchased Snyder’s-Lance in 2018.
Aaron Greenwald, founder and CEO of Our Home, said Pop Secret’s widespread consumption and recognition, “combined with our extensive manufacturing capabilities, create a unique platform for growth and innovation in the market.”
As part of its Sovos acquisition, Campbell Soup also added Noosa yogurt to its portfolio. The soup and snacks maker said when the deal closed that it planned to evaluate strategic alternatives for the dairy brand.