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Campbell's Buys Plant-Based Milk Brand for $700 Million

The soup giant acquires almond, oat, and hemp milk company Pacific Foods to stay relevant in the middle aisles of the supermarket.

Last week, food corporation Campbell's Soup announced that it will acquire Pacific Foods—known for its shelf-stable, plant-based milk products—for $700 million. According to Greg Wank at business consulting firm Anchin, the deal is important to Campbell’s as it positions the brand to be more aligned with current food trends. “I think the bigger picture here is the continued trend toward organic and plant-based foods,” Wank told media outlet FoodNavigator-USA. “This acquisition is consistent with our purpose, ‘real food that matters for life’s moments,’” Campbell’s CEO Denise Morrison said. “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.” In the last year, a growing number of large food companies have acquired plant-based brands, including meat company Maple Leaf Foods, which bought meat alternatives company Lightlife Foods—which will remove all animal products by the end of 2017—for $140 million in February.

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Tesco Sells 2.5 Million Vegan Meals in 20 Weeks

The supermarket chain more than doubled its sales projections of new vegan line Wicked Healthy.
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Nevada Steakhouse Debuts Vegan Menu

Hank's Fine Steaks & Martinis added a separate menu with plant-based cauliflower steaks, stuffed eggplant, and two decadent desserts.
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Aussie Pub Creates Vegan Filet-O-Fish

Eatery Two-Bit Villains now hosts weekly vegan pub nights complete with plant-based popcorn chicken, nachos, and a vegan version of the popular fish-based sandwich.
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Friday's "Felicia" Opens Vegan Version of Chipotle

Actress-turned-vegan-chef Angela Means Kaaya to re-open Jackfruit Cafe—which she previously operated out of a doughnut shop—this summer.
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Meaty Vegan Shop Sister Seitan Opens in UK

New woman-owned restaurant Sister Seitan is slinging vegan chicken burgers and mac and cheese in Kent.
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This Week on VegNews TV: The secret to these delightful sweet treats is white beans! Aylin Erman shows you how to make these simple blondies.

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