CAMDEN, N.J.—Campbell Soup Company completed its acquisition of $1.55 billion cash acquisition of Bolthouse Farms, which products under the Bolthouse Farms, Earthbound Farms, Green Giant and private label brands. The acquisition provides Campbell with significant presence and a new platform for expansion in the rapidly growing, $12-billion market for packaged fresh foods.
Headquartered in Bakersfield, Calif., Bolthouse is a vertically integrated food and beverage company focused on developing, manufacturing and marketing proprietary, high value-added natural, healthy products. The company has leading market positions in fresh carrots and super-premium beverages in the United States, along with a growing presence in refrigerated salad dressings.
Commenting on the deal, Denise Morrison, Campbell’s President and CEO, said: “We have acquired a terrific business that is a good strategic fit with Campbell’s existing portfolio and growth strategies. Bolthouse Farms has exceptional employees and fantastic products. This gives Campbell one of the leading positions in both the fast-growing packaged fresh food market and in healthy beverages and provides us with an opportunity to expand into adjacent segments that leverage exciting consumer trends."
Campbell will operate Bolthouse as a separate business unit. Members of Bolthouse Farm’s senior management team will continue to lead the business, with Jeff Dunn, President, Bolthouse Farms, reporting directly to Morrison.