Campbell Taking Plum
Campbell Soup Co. has entered into an agreement to acquire Plum Organics.
Plum’s portfolio of organic baby food, bite-sized puffed snacks, and squeezable fruit, veggies and Greek yogurt, will enable Campbell to extend its core categories of simple meals, snacks and beverages and enhance its access to a new generation of consumers. With the addition of its products, Campbell’s portfolio of kids-focused soups, beverages and snacks will have annual sales of more than $1 billion.
“Plum Organics’ nutritious, on-trend products are a great addition to our North American portfolio of leading brands,” said Campbell’s president and chief executive officer, Denise Morrison, in a statement. “The acquisition will help deliver on our dual mandate to strengthen our core businesses and to expand into faster-growing categories and adjacencies.”
The transaction is subject to regulatory approvals and expected to close in the fourth quarter of fiscal year 2013.