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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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Muay Thai Fighter to Open Vegan Bakery in NYC

Vegan chef Watt Sriboonruang's Rawsome Bakery will land on Orchard Street in Manhattan—further veganizing a street occupied by vegan apparel company MooShoes and vegan store Orchard Grocer.
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Vegan Brand Breaks Indiegogo's Crowdfunding Record

Vegan meal shake startup Bear Brands raised more than $65,000 from 250 backers in the first day of its crowdfunding campaign.
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Playboy Playmate Amanda Cerny is Vegan

The former Playmate and current YouTube comedian confirms that she would never promote beef jerky to her 19 million social media followers because she is vegan.
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Luxe Department Stores Launch Decadent Vegan Menu

Harvey Nichols stores across the UK now serve upscale vegan dishes and wines at its seven locations.
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Mosa Meat to Debut Slaughter-Free Meat by 2020

The European company that made the first lab-grown hamburger—for a cost of $325,000—will soon debut on menus at upscale restaurants.
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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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