specialty food maker
mergers &
acquisitions
A roundup of consolidations having an
impact on the specialty food world.
CAMPBELL SOUP CO. TO ACQUIRE PACIFIC FOODS
Campbell Soup Co. has agreed to acquire Pacific Foods for $700 million in cash. Oregon-based Pacific Foods
is a producer of organic broth and soup, as well as plant-based beverages and other meals and sides. The
company will become part of Campbell's Americas Simple Meals and Beverages division, which includes the
soup, simple meals, and shelf-stable beverage units. Campbell expects the acquisition to enhance its efforts
to drive innovation in health and well-being, as well as expand Pacific Foods' distribution, boost marketing
support, and fund more research and development. Campbell plans to operate Pacific Foods from its current
Oregon headquarters, and Pacific Foods CEO and co-founder Chuck Eggert will stay on as a supplier of key
ingredients through his family farms and help the company maintain its farm-to-table approach.
Danone to Sell
Stonyfield to
Lactalis
Danone has entered an agree-
ment with Lactalis to sell
Stonyfield for $875 million.
The sale is part of a divesti-
ture agreement that Danone
made with the U.S. Department
of Justice after acquiring
WhiteWave. The agreement
between Lactalis and Danone
is binding, but subject to final
approval by the DOJ.
GRUBHUB TO BUY YELP'S EAT24
Grubhub Inc. and Yelp Inc. have formed a long-term partnership that
includes Grubhub's acquisition of Yelp's Eat24 business for $287.5
million in cash, pending standard closing conditions and expiration of
U.S. antitrust waiting periods. In exchange, Yelp will integrate online
ordering from tens of thousands of Grubhub restaurants on its local
goods and services platform. Diners will now be able to discover and
order from approximately 75,000 local restaurants through either
Grubhub's or Yelp's interface.
80 ❘ SPECIALTY FOOD MAGAZINE specialtyfood.com
