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

Avocados That Last 50 Percent Longer Debut at Costco

The popular toast-topper is wrapped in an organic plant-based preservation skin made by tech company Apeel Sciences.
Read More »

80-Year-Old Food Brand Goes Vegan

Heritage Health Food plans to transition its entire brand to be free of animal products by 2019 and launch innovative new vegan foods geared to mainstream markets.
Read More »

Canada's Senate Passes Cruelty-Free Cosmetics Act

Cruel cosmetic testing on animals may soon become a thing of the past in Canada.
Read More »

Month-Long Vegan Festival Kicks Off in London

V For festival will hosts events featuring vegan food, cruelty-free fashion, art, and fitness throughout the month of August.
Read More »

Vegan Cheese Sales Spike by 45 Percent in 52 Weeks

Consumer research firm Nielsen reveals new consumer statistics, including that African-Americans are 48 percent more likely than the average American consumer to purchase vegan food.
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 »