US: Campbell Soup Co to keep Bolthouse Farms' “entrepreneurial spirit”
Campbell Soup Co's V8 brand won't be distributed alongside Bolthouse Farms' drinks
Campbell Soup Co will keep Bolthouse Farms a separate business to help preserve its “entrepreneurial spirit”.
Campbell announced yesterday (9 July) it has agreed to buy the California-based vegetable-juice maker for US$1.55bn. A company spokesperson later told just-drinks: “Our plans are to operate Bolthouse as an independent, separate business unit.
“We want to preserve the entrepreneurial spirit that they have. They are a very successful and innovative operation.”
Later, on a conference call with investors, Campbell president & CEO, Denise Morrison, lauded Bolthouse's innovation and said it has a number of new and exciting products in the pipeline.
Morrison said Bolthouse's beverage line will “align perfectly” with Campbell's range of V8 juices to create a healthy-beverage platform worth US$1.2bn in annual sales.
But Bolthouse, which also produces fresh carrots and a range of salad dressings, will not take immediate advantage of Campbell's logistics network and will continue to distribute its beverage lines from two warehouses in the US.
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