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.
Canada Gets Its First Vegan Vending Machine
The grab-and-go machine, housed inside of a sports center, will be restocked daily with freshly prepared meals and snacks prepared by British Colombia-based eatery The Green Moustache Organic Café.
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Anthony Bourdain Says Plant Foods Help End World Hunger
The chef is critical of the Impossible Burger—which he has not sampled—but understands the world-changing effects of replacing animal foods with plant-based protein.
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France Bans Use of "Meat" for Plant-Based Products
Plant-based food companies in France will now face a $370,000 fine for using "meat," "sausage," "bacon," or any other term legislators have deemed is connected to meat marketing.
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Israeli Salami Brand Debuts Vegan Meat Line
Food company Soglowek will donate 20 percent of its profits from the new plant-based line to support the efforts of SuperMeat—an Israeli company working to develop slaughter-free meat.
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Vegan Burger Bar Pops Up for Earth Day
Earthie's Drive Thru is planting a tree for every Impossible Burger they sell.
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More Flashbacks
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- Luxe Shop Debuts Vegan Avocado-Shaped Ice Cream
- IKEA Promotes Plant-Based Eating for Earth Day
- '50s Style Vegan Diner Opens in Michigan
- Vegan Chicken Nugget Startup Raises $1 Million
- Impossible Foods Makes First International Debut
- Cleveland Chef Debuts Bitchy Vegan Homo Cooking Show
- Vegan Girl Scout Thin Mint Chickpea Snacks Debut in June
- Vegan Tacos Win Food Battle Against Fish Tacos
- Postmates Ends Deliveries of Foie Gras
- New Vegan Market Opens in South Florida
- Beyond Sausage Debuts at All Whole Foods Nationwide
- Harry Styles Ends European Tour with Vegan Pie Prank
- Students Develop Plant-Based Burger That Mimics Salmon
- Vegan Goth-Themed Café Opens in Arizona
- Vegan Mac and Cheese Debuts in Hot Bar at 55 Whole Foods
- Gordon Ramsay Finally Gives Vegan Thing a Try
- Eminem Serves Vegan Mom's Spaghetti at Coachella
- Vegan Shop Beyond Sushi Opens Sixth NYC Location
- Field Roast Debuts Vegan Mayo
