Campbell to Buy Bolthouse for $1.55 Billion to Add Juices

 In International

Campbell Soup Co. (CPB), world’s largest soupmaker, agreed to buy Bolthouse Farms for about $1.55 billion in cash to bolster its juice business.

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Bolthouse had sales of $689 million and earnings before interest and taxes of $79 million in its fiscal year ended March 31, Camden, New Jersey-based Campbell said today in a statement. Bakersfield, California-based Bolthouse is being bought from private-equity fund Madison Dearborn Partners LLC. The purchase price includes no debt.
Enlarge image Campbell Agrees to Buy Bolthouse for $1.55 Billion to Add Juices

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Buying Bolthouse will strengthen Campbell’s U.S. beverage division, which makes the V8 brand of juice and accounted for about 10 percent of sales in the year ended July 31. That unit was Campbell’s fastest-growing last quarter, generating $208 million in revenue, while sales in its soup unit have slowed. Bloomberg – Read more…
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