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

Snack Brand Debuts Vegan Space Ice Cream

Seva Foods' freeze-dried Space Ice Kream is an indulgence for astronauts and land-dwellers alike.
Read More »

NYC All-You-Can-Eat Ice Cream Fest Offers Vegan Scoops

Three-day festival Scooper Bowl in Bryant Park will treat guests to ice cream of every variety, including dairy-free scoops from Van Leeuwen, Ben & Jerry's, and Häagen-Dazs.
Read More »

Animal Ag Companies Fined $29M for Destroying Amazon

The government of Brazil slapped a hefty fine on feed suppliers to meat and dairy companies that sell to McDonald's, Burger King, and Walmart for destroying the country's biodiverse Cerrado region for profit.
Read More »

Moby Retires from Touring to Focus on Activism

…and to make vegan smoothies every morning after waking up in his own bed.
Read More »

UK Version of Beyond Burger Expands Across London

British vegan brand Moving Mountains expands its B12 burger to five locations of meat-centric chain Dirty Bones—where it will be served topped with vegan mac and cheese.
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 »