Campbell Soup Co. Completes Acquisition of Garden Fresh Gourmet for $231 Million

|

Cornerstone_in_white_SquareCAMDEN, N.J.–(BUSINESS WIRE) — Campbell Soup Company (NYSE:CPB) today announced it has completed the acquisition of the assets and business of Garden Fresh Gourmet for $231 million. Garden Fresh Gourmet is the No. 1 branded refrigerated salsa in the U.S. and also makes hummus, dips and tortilla chips.1

Jeff Dunn, President–Campbell Fresh, said, “The acquisition of Garden Fresh Gourmet provides Campbell with another platform for growth in a key strategic area – the fast-growing perimeter of the grocery store. Garden Fresh Gourmet’s on-trend products are the ideal complement to the Bolthouse Farms portfolio in the produce section and will help extend our presence in the deli section. We’re excited to take Garden Fresh Gourmet to the next level.”

Garden Fresh Gourmet is part of the Campbell Fresh division, focused on building the company’s scale and accelerating growth in rapidly expanding packaged fresh categories. The division also includes the Bolthouse Farms portfolio and Campbell’s retail refrigerated soups.

Headquartered in Ferndale, Mich. and with approximately 500 employees, Garden Fresh Gourmet generated $100 million in net sales for the year ended Dec. 31, 2014. Garden Fresh Gourmet is led by Todd Putman, General Manager–Garden Fresh, within the Campbell Fresh division.

About Campbell Soup Company

Campbell (NYSE:CPB) is driven and inspired by our Purpose, “Real food that matters for life’s moments.” The company makes a range of products from high-quality soups and simple meals to snacks and healthy beverages. For generations, people have trusted Campbell to provide authentic, flavorful and readily available foods and beverages that connect them to each other, to warm memories, and to what’s important today. Led by its iconic Campbell’s brand, the company’s portfolio includes Pepperidge Farm, Goldfish, Bolthouse Farms, V8, Swanson, Prego, Pace, Plum, Garden Fresh Gourmet, Arnott’s, Tim Tam, Royal Dansk andKjeldsens. Founded in 1869, Campbell has a heritage of giving back and acting as a good steward of the planet’s natural resources. The company is a member of the Standard & Poor’s 500 and the Dow Jones Sustainability Indexes. For more information, visit www.campbellsoupcompany.com or follow company news on Twitter via @CampbellSoupCo.