Campbell finalizes acquisition of Plum Organics
CAMDEN, N.J. — Campbell Soup Co. today announced that it has completed the acquisition of Plum Organics, a provider of organic foods and snacks that serve the nutritional needs of babies, toddlers and children. Plum is the No. 2 brand of organic baby food in the United States and is currently the No. 4 baby food brand overall, according to the company. Plum Organics generated $93 million in gross sales for the year ended Dec. 31, 2012.
"We are thrilled to welcome the Plum brand, its people and its quality products to Campbell. Plum is generating great success in the marketplace, and we believe that Campbell's resources will help fuel further expansion of the Plum brand within the fast-growing premium, organic food segment," said Mark Alexander, president, Campbell North America.
Campbell will operate Plum as a standalone business within its Campbell North America division. Senior members of Plum Organics' management team, including co-founder and president Neil Grimmer, will continue to lead Plum and its mission-driven culture from its headquarters in Emeryville, Calif. Grimmer will report to Alexander.
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