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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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Dairy Farmers Make Beer as Milk Industry Sours

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The Hamptons Gets Its First Vegan Café

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CA Senate Passes Mandatory Vegan Prison-Food Bill

State prisons, nursing homes, and hospitals may soon be required to have at least one plant-based meal option.
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Natalie Portman Survives Fiery Vegan Wings on Hot Ones

The vegan actress makes her way through the gamut of hot sauces on the series as she explains her dedication to veganism and promotes documentary Eating Animals.
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Prince's Estate Pledges to Remain Meat-Free

To pay respect to the late artist—an avid animal-rights advocate and rumored vegan—Paisley Park will maintain its meat-free policy.
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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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