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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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IKEA Debuts Plant-Based Hot Dogs

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Rooney Mara Launches Luxury Vegan Fashion Line

New fashion brand Hiraeth includes faux-leather pants, velvet garments, and combat boots—all made ethically in Los Angeles.
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NYC Meat Emporium Now Serves Vegan Beyond Sausage

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Vegan Truffles Beat 141 Brands in Blind Taste Test

Chocolates made by United Kingdom brand Booja-Booja received top honors in Good Housekeeping's annual Easter Egg Taste Test.
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POC-Owned Vegan Lipstick Brand Debuts at Target

Vegan Bawse Lady red lipstick, and other hues aimed at women of all skin tones, will be available at 100 Target stores by May.
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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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