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

Delivery Service Veganizes Meghan Markle's Favorite Dish

London-based food delivery app Deliveroo added vegan "Royal Poutine" to its menu in honor of Prince Harry and future duchess Meghan Markle's wedding.
Read More »

Plant-Based Pork to Curb Meat Consumption in Asia

New brand Right Treat—created by vegetarian market chain Green Common founder David Yeung—launches its first product, vegan meat Omnipork, in Hong Kong.
Read More »

Bentley Designer Predicts Animal-Free Future for Cars

Automotive designer Stefan Sielaff believes that making luxury car interiors from 15 animal hides will become obsolete, as modern customers are looking for vehicles that align with their cruelty-free values.
Read More »

Former Beyond Meat Chef Debuts New Vegan Bacon Chips

Dave Anderson—formerly employed by plant-based companies Beyond Meat and JUST—developed mushroom-based PIG OUT vegan bacon snacks, the flagship product of new vegan brand Outstanding Foods.
Read More »

Four New Vegan Dishes Hit Whole Foods Markets

The Amazing Protein Company's plant-based Lika protein is now available in the prepared foods section across the Southwest Pacific region of the grocery chain.
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 »