Campbell Soup to buy Bolthouse Farms for $1.55 bn
09 Jul 2012
Campbell Soup Co, the world's largest maker of canned soups today said that it will buy Bolthouse Farms for $1.55 billion in cash, in order to expand its presence in the $12-billion market for packaged fresh foods.
Bakersfield, California-based Bolthouse is being acquired from private-equity firm Madison Dearborn Partners.
Founded in 1915, Bolthouse is a vertically integrated food and beverage company focused on developing, manufacturing and marketing proprietary, high value-added natural, healthy products.
The company has leading market positions in fresh carrots and super-premium beverages in the US, along with a growing presence in refrigerated salad dressings.
It markets and sells its beverages and dressings under the ''Bolthouse Farms'' brand, and its carrots under the ''Bolthouse Farms,'' ''Earthbound Farms'' and ''Green Giant'' brands, as well as private label offerings.
Bolthouse employs about 2,100 people and had sales of $689 million for its fiscal year ended March 2012.
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