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Campbell Acquires Pacific Foods for $700 Million

Campbell Acquires Pacific Foods for $700 Million


CAMDEN, NJ
Thursday, December 14th, 2017

Organic food is an $11 billion category in the U.S., and as more consumers seek organic labels and products, companies like Campbell Soup Company are expanding into the category to meet demand. Bolstering its organic offerings, Campbell announced it has acquired Pacific Foods of Oregon for $700 million in cash. Generating approximately $232 million in twelve-month net sales as of November 2017, Pacific Foods offerings will join Campbell’s portfolio of organic foods as the company plans to drive growth.

Denise Morrison, President and CEO, Campbell Soup Company“Pacific Foods is an entrepreneur-driven, Oregon success story and an excellent fit with Campbell and our Purpose, ‘Real food that matters for life’s moments.’ Campbell and Pacific Foods believe in making food that we are proud to serve at our own tables using simple, recognizable ingredients. We look forward to welcoming the employees of Pacific Foods and their strong brand to the Campbell family,” said Denise Morrison, Campbell’s President and Chief Executive Officer, in a press release.

Campbell Soup Company announced its intent to purchase Pacific Foods this July

Founded in 1987 in Tualatin, Oregon, Pacific Foods, maker of broth, soup, and shelf-stable plant-based beverages, meals, and sides, will join the ranks of Campbell’s, V8, Swanson, Prego, Pace, and Plum Organics in Campbell’s Americas Simple Meals and Beverages division in the U.S. and Canada.

Chuck Eggert, CEO and Co-Founder, Pacific Foods of Oregon“When we started Pacific Foods 30 years ago, we never suspected the company would grow to become a leading maker of organic soups, broths, and plant-based beverages. At the time, we were actually making tofu! No one predicted the explosive growth in organics, the adoption of clean eating, or the widespread mainstreaming of health and wellness through food. We just did things our way and appreciated when people liked what we made. Today, a whole lot of people like what we do. The pressure to grow, however, is inherent in business. When we started looking at our options for increasing capacity—really what we can do to scale organics and provide more people with high quality, nourishing foods at prices they can afford—we realized we couldn’t do it alone,” shared Founder and CEO Chuck Eggert in a personal message, according to a press release.

Pacific Foods organic products

To lead the added company, Campbell named Joe Folds as Vice President and General Manager, Pacific Foods. Folds has been a part of Campbell’s since 1997, and has many years of global experience leading businesses and brands.

As organics continue to take over the deli, dairy, and bakery world, Deli Market News will continue to report on our expanding industry.

Campbell's Soup CompanyPacific Foods of Oregon
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