Campbell Soup Company will acquire Pacific Foods of Oregon for US$700 million in cash.
Founded in 1987, Pacific Foods produces organic broth and soup, shelf-stable plant-based beverages and other meals and sides.
The company generated approximately US$218 million in trailing 12-month net sales as of May 31, 2017.
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.
Pacific Foods will become part of Campbell’s Americas Simple Meals and Beverages division, which includes Campbell’s soup, simple meals and shelf-stable beverage units in the US, Canada and Latin America.
This is Campbell’s fifth acquisition in five years as the company continues to reshape its portfolio for growth.
The company acquired Bolthouse Farms in 2012, organic baby-food company Plum and biscuit company Kelsen in 2013, and fresh salsa and hummus maker Garden Fresh Gourmet in 2015.
