Campbell Soup Co., Camden, N.J., on July 9 announced an agreement to acquire Bolthouse Farms from a fund managed by Madison Dearborn Partners LLC, a private equity firm, for $1.55 billion in cash.
Founded in 1915, Bolthouse, headquartered in Bakersfield, Calif., is a vertically integrated food & beverage company. It has both fresh produce, primarily carrots, and vegetable-based premium beverages, as well as a growing presence in refrigerated salad dressings.
The acquisition will give Campbell a new platform in packaged fresh foods, as well as beverages complementary to Campbell's V8 beverage business. It should provide Campbell with healthy beverage sales of approximately $1.2 billion annually.
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