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.

More News

Brooklyn's Vegan President Pushes to Ban Bologna

Eric L. Adams introduced a resolution that would ban disease-promoting processed meat at New York City public schools.
Read More »

Director Kevin Smith is Now a Non-Animal Eater

The Clerks director has officially ditched all animal products after a devastating heart attack made him reconsider his dietary habits.
Read More »

Ed Sheeran Buys Vegan Domino's Pizza for Dedicated Fans

The musician treated fans who camped out to see his concert in Brisbane, Australia to vegan pizzas from the chain, which recently added Follow Your Heart's vegan cheese to its menus.
Read More »

UK Doughnut Chain Opens an All-Vegan Outpost

The new plant-based location of doughnut shop Crosstown in London aims to make cruelty free doughnuts that rival the “real” thing.
Read More »

Zac Efron Thrives on a Purely Plant-Based Diet

The High School Musical actor reveals that ditching animal products has improved his metabolism, sleep, and exercise routine.
Read More »

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.

More Videos »