News

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

Pamela Anderson Urges Kim Kardashian to Ditch Fur

The actress appears on Good Morning Britain to nudge the reality star to make more compassionate fashion choices.
Read More »

Pret's Eight Top-Sellers are Vegan Dishes

Pret A Manger CEO says he underestimated the strength of the vegan movement, as vegan dishes are increasing the company's sales by 70 percent.
Read More »

Canada's Major Dairy Brand Eyes Plant-Based Industry

Dairy processor Saputo's CEO is actively looking for plant-based partners to expand into the lucrative dairy-free industry.
Read More »

Vegan Comfort Food Eatery Lands in Indianapolis

The city known for chain restaurants and steakhouses will soon be home to all-vegan eatery Three Carrots.
Read More »

Massive Vegan Arts Festival Hits New York City

The weekend-long Compassion Arts Festival will feature poetry, theater, photography, and music that link the arts to veganism.
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 »