Campbell Soup Co. has acquired US salad dressings to beverages firm Bolthouse Farms for a cash consideration of US$1.55bn.
The firm said the move would provide it with a “significant presence” in the “rapidly growing” market for packaged fresh foods.
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The Camden-based company has struggled to turnaround its US business and has witnessed declining revenues from its soups and simple meals units, despite an increased emphasis on innovation and consumer marketing.
The acquisition of Bolthouse – which will continue to operate as a stand-alone unit – could then come as an indication that Campbell is having to look beyond its core categories to fuel long-term growth.
Click here for coverage of Campbell Soup Co.’s conference call to discuss the acquisition.
