Specialty Food Magazine

FALL 2017

Specialty Food Magazine is the leading publication for retailers, manufacturers and foodservice professionals in the specialty food trade. It provides news, trends and business-building insights that help readers keep their businesses competitive.

Issue link: https://specialtyfoodmagazine.epubxp.com/i/873281

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Page 84 of 107

specialty food maker mergers & acquisitions A roundup of consolidations having an impact on the specialty food world. CAMPBELL SOUP CO. TO ACQUIRE PACIFIC FOODS Campbell Soup Co. has agreed to acquire Pacific Foods for $700 million in cash. Oregon-based Pacific Foods is a producer of organic broth and soup, as well as plant-based beverages and other meals and sides. The company will become part of Campbell's Americas Simple Meals and Beverages division, which includes the soup, simple meals, and shelf-stable beverage units. Campbell expects the acquisition to enhance its efforts to drive innovation in health and well-being, as well as expand Pacific Foods' distribution, boost marketing support, and fund more research and development. Campbell plans to operate Pacific Foods from its current Oregon headquarters, and Pacific Foods CEO and co-founder Chuck Eggert will stay on as a supplier of key ingredients through his family farms and help the company maintain its farm-to-table approach. Danone to Sell Stonyfield to Lactalis Danone has entered an agree- ment with Lactalis to sell Stonyfield for $875 million. The sale is part of a divesti- ture agreement that Danone made with the U.S. Department of Justice after acquiring WhiteWave. The agreement between Lactalis and Danone is binding, but subject to final approval by the DOJ. GRUBHUB TO BUY YELP'S EAT24 Grubhub Inc. and Yelp Inc. have formed a long-term partnership that includes Grubhub's acquisition of Yelp's Eat24 business for $287.5 million in cash, pending standard closing conditions and expiration of U.S. antitrust waiting periods. In exchange, Yelp will integrate online ordering from tens of thousands of Grubhub restaurants on its local goods and services platform. Diners will now be able to discover and order from approximately 75,000 local restaurants through either Grubhub's or Yelp's interface. 80 ❘ SPECIALTY FOOD MAGAZINE specialtyfood.com

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