USA: Campbell completed acquisition of Pacific Foods

Pacific Foods is acquired by Campbell. (Photo screenshot Pacific Foods website)

According to Campbell Soup Company (CPB) the acquisition of Pacific Foods of Oregon (Pacific Foods) for $700 million in cash, is now completed. This was announced last week.

Pacific Foods is a leading producer of organic broth and soup and also produces shelf-stable plant-based beverages and other meals and sides. Pacific Foods offerings will join Campbell's portfolio of organic foods, which is in the top 10 in the industry, says a press release.

Denise Morrison, Campbell’s President and Chief Executive Officer, said, “Pacific Foods is an excellent strategic fit with Campbell’s health and well-being portfolio with its strong position in the faster-growing natural and organic category. We are thrilled to add such a powerful and respected organic brand to our company and intend to leverage our expertise and resources to build on Pacific’s track record of sales growth.”

Pacific Foods will be part of Campbell’s Americas Simple Meals and Beverages division, which includes Campbell’s soup, simple meals and shelf-stable beverage units in the U.S. and Canada. Led by Mark Alexander, President, the Americas division includes many leading brands such as Campbell’s, V8, Swanson, Prego, Pace and Plum Organics, tells the company.

Alexander said, “Pacific is an authentic brand with a real food philosophy that closely mirrors our own. We deeply respect what Pacific has built, and our aim is to help Pacific to accelerate growth while continuing its purpose-driven mission: to make nourishing foods with simple, organic ingredients."