Campbell Soup Co. sold organic baby food and kids snacks brand Plum Organics to Sun-Maid Growers of California March 31.
Financial terms of the transaction were not disclosed. Plum Organics was founded in 2007 and acquired by Campbell in 2013.
“We’re excited to welcome Plum Organics’ nutritious line of baby, toddler and kids’ food products to our imaginative world of delicious, whole fruit snacks.
“Plum is a natural fit for the Sun-Maid family given our expertise, leadership and rapid growth in healthy snacking, along with our strong emotional connection with family households,” said Sun-Maid President and CEO Harry Overly in a prepared statement. “Its acquisition is an integral part of our continued dedication to providing superior products while delivering category growth. We’re committed to carrying on Plum’s mission of serving babies the very best food from the first bite.”
Overly said Sun-Maid’s purpose is to help moms find better-for-you food options, and the addition of Plum “delivers even more choices for her and her family.”
Campbell’s President of Meals & Beverages Chris Foley said that the sale is part of the division’s ongoing strategic process to focus on its core categories of soup, sauces and beverages.
Sun-Maid was advised by Cascadia Capital. Campbell was advised by Evercore.
The transaction is expected to close in spring 2021.
