Campbell Soup Company completed the acquisition of Bolthouse Farms from a fund managed by Madison Dearborn Partners LLC for $1.55bn in cash.
Campbell funded the acquisition through a combination of short- and long-term borrowings.
Bolthouse is a vertically integrated food and beverage company focused on developing, manufacturing and marketing proprietary, high value-added natural, healthy products.
The company has leading market positions in fresh carrots and super-premium beverages in the US, along with a growing presence in refrigerated salad dressings. Bolthouse employs about 2,100 people.
Campbell will operate Bolthouse as a separate business unit. Members of Bolthouse Farm’s senior management team will continue to lead the business, with Jeff Dunn, president, Bolthouse Farms, reporting directly to Denise Morrison, Campbell’s president and CEO.
Source: Campbell Soup Company