The acquisition of Bolthouse Farms will create a new $1.2bn healthy beverages platform combining Campbell's V8 veg/fruit brand and Bolthouse's super-premium chilled beverages and boost Campbell’s presence in faster-growing fresh food categories, it said.
Campbell’s President and CEO Denise Morrison 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 plans to operate Bolthouse Farms as a separate business unit and will retain its senior management team, including president and CEO Jeff Dunn – a former Coca-Cola executive.
Bolthouse Farms was previously owned by a fund managed by private equity firm Madison Dearborn Partners.