As the deadline for bids for Californian based juice and vegetable business Bolthouse Farms approaches, it seems that Campbell Soup Co is likely to be the final bidder.
Bloomberg News reported that an offer worth between $1.5-$2bn had been received for Bolthouse which is currently owned by Chicago based private equity company Madison Dearborn Partners. It also reported that Campbell is ‘vying with’ other private equity firms including Blackstone Group.
Bolthouse Farms began in the baby carrot business in 1915 but began to make major moves into ready to drink juice products around 10 years ago. Once family-owned, Madison Dearborn acquired the company in 2005.
Buying Bolthouse would be a obvious fit for Campbell’s, whose US beverages division accounted for around 10% of sales last year and includes the V8 juice brand, with its multiple brand extensions.
Source: Bloomberg/Nasdaq/FoodBev Media
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