Cambell Soup Co. acquires baby food maker Plum Organics
Campbell Soup successfully acquired premium organic infant food producer and provider Plum Organics. The company said it intends to use Plum Organics as a separate arm within Campbell's North American cluster. The buyout did not change any of the current management team of Plum Organics, including co-founder and president, Neil Grimmer.
Plum Organics posted an estimated revenue of $93 million in 2012. Locally, the company is ranked second in the distributor or organic baby food list, and fourth overall in the top baby food brands in the United States. The baby food industry is worth $2 billion in the United States alone.
Campbell expects to gain $1 billion in annual profit with the new line of baby food merchandise to be launched by Plum Organics in the future.
Mark Alexander, Campbell North America's president, said he is "thrilled" in the inclusion of Plum Organics into the roster of products of Campbell.