HIGHOutside partySupplier
La Regina produces all Rao's tomato-based pasta sauces
“10-K Item 1: 'La Regina currently produces all of our Rao’s tomato-based pasta sauces.'”
CPB · Concentration risk · 10-K extracted
The Campbell's (CPB) concentration risks
Updated
The most significant concentration The Campbell's discloses is La Regina produces all Rao's tomato-based pasta sauces, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results. How we score · Editorial policy
Show full disclosure ▾Hide full disclosure ▴
About TrendMatrix. TrendMatrix is a publisher of general securities research and market commentary. We publish on a regular schedule. All content is the same for every subscriber in a tier — we do not provide personalized investment advice and we do not take into account any individual subscriber's financial situation, investment objectives, risk tolerance, tax situation, or holdings.
Not investment advice. TrendMatrix is not a registered investment adviser. Our content is for informational and educational purposes only. Consult your own licensed investment adviser, broker, or tax professional before making any investment decision.
Conflicts and positions. People who build TrendMatrix, or entities they control, may hold positions, long or short, in securities it covers, and may trade them at any time. Positions are not disclosed individually. Verdicts are generated by an automated model applied by the same rules to every covered stock, and are not adjusted for any position held by the people who build TrendMatrix. We do not accept payment from issuers for coverage.
No paid promotion. TrendMatrix does not accept payment from any issuer, broker, or third party in exchange for coverage of any security.
No fiduciary duty. No fiduciary, advisory, or agency relationship is created between you and TrendMatrix by reading our content or subscribing to our service.
Performance. Past performance is not indicative of future results. Performance figures reflect the published model only and do not reflect any individual subscriber's actual results.
Source: The Campbell's’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 3 disclosed concentrations
HIGH1
MEDIUM1
LOW1
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
MEDIUMOutside partyCustomer
48%
five largest customers
“10-K Item 1: 'Our five largest customers accounted for approximately 48% of our consolidated net sales in 2026'”
LOWOutside partyCustomer
22%
Walmart Inc. and its affiliates
“10-K Item 1: 'Our largest customer, Walmart Inc. and its affiliates, accounted for approximately 22% of our consolidated net sales in 2026'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-10-18Campbell's exposures are all dependency-type, split between a single production site and a concentrated retail base. On the supply side, La Regina currently produces all of the Rao's tomato-based pasta sauces, a high-share exposure. This is the most idiosyncratic risk: Rao's is a prominent growth brand, and a disruption at a sole producer would interrupt a product line directly, regardless of demand. On the customer side, the five largest customers accounted for approximately 48% of consolidated net sales in 2026, a medium-share exposure. Within that group, Walmart Inc. and its affiliates, the largest customer, accounted for approximately 22% of consolidated net sales, a low-share exposure on its own. So the retail concentration is spread across several accounts rather than resting on a single buyer, though the group as a whole holds meaningful negotiating leverage over pricing and shelf space. Netting these out, the customer concentration is a steady, well-quantified feature of the packaged-food model, while the single-producer dependency is the exposure that could produce a sudden, event-driven shock. Monitoring should focus on any redundancy plans for Rao's sauce production.
For the engine’s reasoning on CPB’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Packaged Foods
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| CENT | Central Garden & Pet Company | 1 | 1 | 2 | 4 |
| CENTA | Central Garden & Pet Company | 1 | 1 | 2 | 4 |
| CPB● | The Campbell's Company | 1 | 1 | 1 | 3 |
| DAR | Darling Ingredients Inc. | 1 | 1 | 0 | 2 |
| CAG | ConAgra Brands, Inc. | 0 | 1 | 0 | 1 |
| BRBR | BellRing Brands, Inc. | 0 | 0 | 0 | 0 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.