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Campbell Acquires Pacific Foods For $700 Million

Posted On: 12/14/2017

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CAMDEN, NJ -- Campbell Soup Co. said it has acquired Pacific Foods of Oregon for $700 million in cash.

Founded in 1987 in Tualatin, OR, Pacific Foods produces organic broth and soup and shelf-stable plant-based beverages and meals and sides. It has more than 500 employees and operates a certified organic plant where it produces its namesake products. Campbell will continue to operate Pacific Foods out of its Tualatin, OR, headquarters.

Pacific Foods will be part of Campbell's Americas Simple Meals and Beverages division, which includes Campbell's soup, simple meals and shelf-stable beverage units in the U.S. and Canada. Led by Mark Alexander, president of the Americas division, it includes the Campbell's, V8 and Swanson brands.

Campbell has named Joe Folds vice-president and general manager of Pacific Foods. He was most recently vice-president of strategy and business development and global brands for Campbell's global biscuits and snacks business.

Campbell expects that Pacific Foods will contribute approximately $100 million in net sales in fiscal 2018.