Soup Giant Campbells Enters Plant-Milk Market With $700 Million Purchase Of Pacific Foods

The company has followed others who have diversified their portfolios to take slice of vegan sector
Yet another giant brand has invested in plant-based food (Photo: Dave Nakayama)

Campbells - best known for its range of soups - has invested a staggering $700 million to acquire Oregon-based Pacific Foods - a brand known for its almond, hemp and oat milks.

The purchase was apparently made to keep the brand up to date with food trends - the brand's fifth purchase in as many years, as it strives to diversify its portfolio.

Greg Wank, from business consulting firm Anchin, said: "I think the bigger picture here is the continued trend toward organic and plant-based foods. This acquisition is consistent with our purpose, ‘real food that matters for life’s moments'."

Loyal

Campbell’s president and chief executive Denise Morrison added: "Pacific is an authentic brand with a loyal consumer following. The acquisition allows us to expand into faster-growing spaces such as organic and functional food. 

"Moreover, Pacific Foods is an excellent fit with Campbell — strategically, culturally and philosophically. It advances our strategic imperatives around real food, transparency, sustainability and health and well-being."

Pacific personnel

According to the companies, Chief Executive and Co-founder of Pacific Foods Chuck Eggert, will stay on 'as a supplier of key ingredients through his family farms'.

Pacific - which is based in Oregon - will be folded into New Jersey-based Campbell's simple meals and beverages division once the acquisition is complete, subject to regulatory approvals and other closing conditions, according to the companies.

READ MORE:

Global Plant Milk Market Set To Top A Staggering $16 Billion In 2018

Plant-Based Milk Sales Skyrocket

'Plant-Based Milk' Packaging Is Misleading Consumers', Says US Gov

Sign up for our newsletter to get the best of Plant Based News delivered to your inbox weekly.
------

Disclaimer: The opinions expressed in this article are prepared in the author's capacity and do not necessarily reflect the views and opinions of Plant Based News itself. 

Reuse this content
PBN Contributor:

Some of our articles are published as a team, which means the article has been produced by a collection of people rather than one author. If you have any questions regarding what is written above please contact us.

(c) 2018 Plant Based News LTD. All Rights Reserved. Content must not be copied without permission.

Join the conversation

Since you're here...
Plant Based News is a FREE service that receives millions of views each week on YoutubeFacebookInstagramTwitterour weekly newsletter and this website. This takes a lot of our personal time, money and hard work. But we do it because we KNOW it makes a difference. If those following our reporting helped by contributing, we could do even more. Please consider supporting us so we can create further awareness about animal rights, environmentalism, ethical consumerism and the plant-based lifestyle. Not a false narrative - but information that empowers people to make better choices.

Support Plant Based News

It's World Vegan Day