Campbell's completes Bolthouse Farms acquisition

CAMDEN, N.J. — Campbell's has completed the acquisition of Bolthouse Farms from a fund managed by private equity firm Madison Dearborn Partners for $1.55 billion in cash.

The company said it will operate Bolthouse as a separate business unit. Members of Bolthouse Farms' senior management team will continue to lead the business, with Bolthhouse Farms president Jeff Dunn reporting directly to Campbell's president and CEO Denise Morrison. The acquisition was first announced in early July.

"We have acquired a terrific business that is a good strategic fit with Campbell's existing portfolio and growth strategies," Morrison said. "Bolthouse Farms has exceptional employees and fantastic products. This gives Campbell one of the leading positions in both the fast-growing packaged fresh food market and in healthy beverages and provides us with an opportunity to expand into adjacent segments that leverage exciting consumer trends."