In New Jersey, Campbell Soup Company acquired Pacific Foods of Oregon, a natural foods industry pioneer with strong health and well-being and organic credentials, particularly with younger consumers. Organic food is a more than $11 billion category in the U.S., with a compound annual growth rate of 15.3 percent over the past four years. Pacific Foods has a sustained track record of growth, and generated approximately $218 million in trailing twelve month net sales as of May 31, 2017.
The $700 million in cash acquisition allows Campbell to bring its expertise and scale to Pacific Foods and invest in the business to expand distribution; boost marketing support for brand building to engage consumers and shoppers; and in R&D and the supply chain to deliver operations and customer service excellence.
Campbell plans to operate Pacific Foods’ certified organic plant out of Tualatin., OR, where the company will maintain its farm-to-table approach.