Campbell to Acquire Pacific Foods to Expand in Faster-Growing Health and Well-Being Categories
Pacific Foods Natural and Organic Broths, Soups, Plant-Based Beverages and Meals Meet Changing Consumer Preferences
Campbell Soup Company (NYSE:CPB) today announced it has entered into an agreement to acquire Pacific Foods of Oregon for $700 million in cash. Founded in 1987, Pacific Foods is a leading producer of organic broth and soup,1 and also produces shelf-stable plant-based beverages and other meals and sides. Pacific Foods has a sustained track record of growth, and generated approximately $218 million in trailing twelve month net sales as of May 31, 2017.
Pacific Foods is a natural foods industry pioneer that has strong health and well-being and organic credentials, particularly with younger consumers. Its products and approach are very closely aligned with Campbell’s real food philosophy. Pacific Foods will help accelerate Campbell’s efforts to deliver real food and beverages that meet consumers’ changing tastes and preferences. The acquisition will also further Campbell’s efforts to drive innovation in health and well-being to reinvent the center store, while giving the company more access to natural and organic customers and channels.