23/05/2013

Darwin Exits Plum Organics

 

Campbell Soup Company ("Campbell"), a New York listed manufacturer and marketer of high-quality foods and simple meals, today announced it has entered into an agreement to acquire Plum Organics ("Plum"), a leading provider of premium, organic foods and snacks that serve the nutritional needs of babies, toddlers and children. 

The acquisition of Plum will provide Campbell with an attractive platform to extend its core categories of simple meals, snacks and beverages and enhance its access to a new generation of consumers. Plum's products have strong distribution in key customer channels, including online, natural and baby specialty outlets. With the addition of Plum's products, Campbell's portfolio of kids-focused soups, beverages and snacks will have annual sales of more than $1 billion.

Denise Morrison, Campbell's President and Chief Executive Officer, said, "Plum's nutritious, on-trend products are a great addition to our portfolio of leading brands. The acquisition will help deliver on our dual mandate to strengthen our core businesses and to expand into faster-growing categories and adjacencies. It represents another step toward our long term goal of shifting Campbell's center of gravity."

Neil Grimmer, CEO of Plum said, "Plum was founded by a group of parents on a mission to give the very best food to our little ones. To date, we've made a huge impact serving over 200 million organic meals and snacks. Joining the Campbell family will allow us to amplify our mission to reach even more little ones on a global scale. We look forward to building an exciting future together."

Financial terms of the transaction were not disclosed. 

 
Back to latest news