Campbell Acquires Pacific Foods for $700 Million
Campbell's latest strategy to capitalize on shifting consumer tastes in favor of grocery and retail involved buying out competitor Pacific Foods for $700 Million.
Campbell Soup CEO Denise Morrison weighed in on the acquisition stating it would "allow us to expand in faster-growing spaces." The strategic move was inspired by a chain of events. Steady growth in the consumer packaged goods sector in the food industry in tandem with the marriage of Amazon and Whole Foods is poised to reinvent the retail landscape.
Steady growth in the consumer packaged goods sector in the food industry in tandem with the marriage of Amazon and Whole Foods is poised to reinvent the retail landscape.
Pacific Foods will join Campbell’s Americas Simple Meals and Beverages business, which also includes Prego, Swanson, V8, and the company's historic soup brand. In an official state from Campbell, Morrison spoke on the shared vision between the two companies: "This acquisition is consistent with our Purpose, ‘Real food that matters for life’s moments.’ Pacific is an authentic brand with a loyal consumer following. The acquisition allows us to expand into faster-growing spaces such as organic and functional food."
Campbell aims to bring it's expertise and scale to Pacific Foods by expanding distribution.
Is Plant-Based Meat the Future of Food? Impossible Foods Raises $75 Million
Food industry disruptors Impossible Foods secured $75 million in funding to continue their mission to find the ultimate plant-based meat product. The "meatless" company stated they want to replace a number of animal products with products engineered from plants. Yet for now their focus remains on mass-producing their flagship product, the impossible burger. A major step towards that goal involves the opening of a factory in Oakland, Ca. in May. They expect to crank out around 1 million pounds of plant-based meat each month.
Impossible Foods' push to pour resources into production comes at a time when plant-based meat competition is hitting retail. Beyond Meat — another company that’s producing plant-based alternative foods — are already available in hundreds of Whole Foods and Safeway locations. Impossible Foods just announced they're appearing in over 600 Kroger stores across 13 states.
Scientists Are Trying to Make Algae the Next Superfood
Most of the research surrounding algae is towards it's potential as a biofuel source. However, it may be "one of the most nutritious foods known to man," according to some researchers, and may find it's way onto retail shelves in the not-so-distant future.
Algae are "20 times more productive than conventional crops," and require much fewer resources to maintain compared to it's conventional crop competitors. They also fail to threaten the growth of other crops since they don't compete for fertile land and can be grown in harsh environments.
In fact, some types of algae are already making their way into shopping carts. A type of algae called Spirulina has gained popularity as a popular health food supplement, and is even utilized in major juice brands like such as Naked. Every bite of Spirulina contains more protein and more iron than 20% fat ground beef.