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Campbell Soup to acquire Bolthouse Farms |
07.13.2012
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Campbell Soup Company has agreed to acquire Bolthouse Farms from a fund managed by Madison Dearborn Partners, LLC, for $1.55 billion in cash.
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 U.S., along with a growing presence in refrigerated salad dressings.
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The acquisition will provide Campbell with strong presence in the fast growing, $12-billion market for packaged fresh foods. Bolthouse's refrigerated beverages will complement Campbell's successful "V8" beverage business, creating one of the industry's largest healthy beverage platforms, with annual sales of approximately $1.2 billion. Bolthouse's strong market position in fresh carrots in the U.S. and Canada will also provide an attractive opportunity for growth with value-added products in healthy snacking.
Campbell plans to operate Bolthouse Farms as a separate business unit. Members of Bolthouse's senior management team, including President and CEO Jeff Dunn, will remain with the company.
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