1661880872236 Mergersacquistions

Campbell Sells Bolthouse Farms

April 15, 2019
Campbell Soup has agreed to sell fresh-food unit Bolthouse Farms to an investment group that includes Bolthouse’s former chief.

Campbell Soup has agreed to sell fresh-food unit Bolthouse Farms to an investment group that includes Bolthouse’s former chief.

Bolthouse, whose products include the leading national brand of baby-cut carrots, is being sold for $510 million to Butterfly Equity, a private-capital firm based in Los Angeles. Campbell bought Bolthouse in 2012 for $1.55 billion.

Butterfly will return Bolthouse to the control of Jeff Dunn, who was CEO at the time of the 2012 acquisition. Dunn continued to run the company under Campbell until leaving in 2016.

“Bolthouse Farms holds a special place in the produce industry and my team and I are deeply committed to strengthening and broadening Bolthouse Farms’ unique legacy,” Dunn said in a statement. “We can’t wait to get started.”

The sale is part of Campbell’s current strategy to divest what it perceives as non-core businesses acquired under former CEO Denise Morrison. Other sales of fresh-food units include a refrigerated soup plant and its Garden Fresh Gourmet unit and plant, both in the last two months.

Sponsored Recommendations

Kaeser is the world’s leading air systems specialist and offers a full range of compressed air solutions for almost any application. From industrial compress...
Take a moment to see the scope of Kaeser's commitment to innovative system designs that guarantee ultra-reliable compressed air, easy maintenance, and greater efficiency.
Ventilation has a huge impact on the ambient temperature in the compressor room and is often the missing link to temperature regulation issues. Here are four factors to consider...
Learn how to get a smart, reliable, energy-efficient compressed air system delivered in a turnkey, weatherproof and temperature-controlled enclosure that needs little or no onsite...