Campbell Soup Acquires Plum Organics

Campbell Soup has completed its acquisition of premium organic baby food provider Plum Organics. The company intends to operate Plum as a standalone business within Campbell's North American division. The acquisition will retain the baby food company's original management team, which includes its president and co-founder, Neil Grimmer.

In 2012, Plum generated approximately $93 million in revenue. The company is the No. 2 distributor of organic baby food, and the No. 4 overall baby food brand in the United States. Baby food is estimated to be a $2 billion industry in the U.S., and with the addition of the company's new line of products, Campbell expects to generate annual sales of more than $1 billion. 

Mark Alexander, president of Campbell's North American division, is "thrilled" to welcome Plum into the Campbell's family of products: "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."

The article Campbell Soup Acquires Plum Organics originally appeared on Fool.com.

Fool contributor Caroline Bennett and The Motley Fool have no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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