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.
Cruelty-Free Cosmetics Predicted to Boom by 2023
Market research shows that consumers will increasingly buy beauty products that are not tested on animals.
Read More »
Pamela Anderson Gets "Fattest City" Mayor to Go Vegan
Jackson, MS Mayor Chokwe Lumumba goes vegan for one month to set an example for city residents.
Read More »
Vietnam to Shut Down Bear Bile Farms
The country will release 1,000 bears held captive for their bile thanks to animal-rights group Animals Asia.
Read More »
Vegan Food Truck Donates $500 Mystery Tip to Animals
Wichita's double-decker vegan food bus Kind Kravings passed on an unexpected anonymous tip to benefit local animals.
Read More »
Vegan Chain Veggie Grill Expands to Chicago
The popular West Coast chain will open its first midwest location this fall as part of its plans to expand nationwide.
Read More »
More Flashbacks
- Men's Leather Shoe Brand Debuts Vegan Boot Line
- Vegan Butcher Throws Bottomless BBQ Buffet
- Brazil Will Serve 5 Million Vegan School Lunches
- Rabbi Challenges Synagogues to Go Vegan
- Beyond Burger to Debut at National Movie Theater
- Vegan Ben & Jerry's to Hit UK
- LUSH Donates Nearly $500K to End Animal Testing
- Horse Slaughter Might Become Legal Again in US
- Whole Foods to Stock Mystery Nut Vegan Yogurt
- New Flag Launches to Unite Vegans Across the Globe
- Chloe Coscarelli to Debut New Vegan Cookbook
- Domino's Adds New Vegan Cheese to 55 Locations
- World-Class Steakhouse Adds Vegan Menu
- Canada's New Dietary Guidelines Push for Plant Foods
- Vegan Film About Race, Class, and Gender Debuts in LA
- Gisele Takes a Stance Against Fur on Cover of Vogue
- Stephen Colbert Adopts Vegan Diet
- Germany's Pork Consumption at Record Low
- Vegan Options Keep Millennials in the Workplace
- Vegan Potato-Based Fitness Drink Raises $2 Million
