Campbell Soups acquires Bolthouse Farms

Soup company Campbell has completed the acquisition of Bolthouse Farms for $1.55 billion in cash.

Headquartered in California, Bolthouse develops, manufactures and markets proprietary, high value-added natural, healthy products. The company is said to have leading market positions in fresh carrots and super-premium beverages in the U.S., along with a growing presence in refrigerated salad dressings.

Bolthouse employs about 2,100 people.

“We have acquired a terrific business that is a good strategic fit with Campbell’s existing portfolio and growth strategies,” said Denise Morrison, Campbell’s president and CEO. “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 will operate Bolthouse as a separate business unit. Members of Bolthouse Farm’s senior management team will continue to lead the business.