Campbell's Drops $700 Million To Buy Natural And Organic Soup Company

Campbell Soup Co. is really making moves to expand, with its recent investment in meal kit company Chef'd and now its acquisition of natural and organic soup company Pacific Foods. The most recent deal will cost the company $700 million in cash.

The acquisition of Pacific Foods is in line with the company's initiative to expand its health and well-being categories, according to the press release.

Pacific Foods, founded in 1987 in Oregon, produces organic broths and soups, plant-based beverages, meals and sides, purées, and more.

"This acquisition is consistent with our purpose, 'Real food that matters for life's moments,'" Denise Morrison, president and chief executive officer at Campbell Soup Co., said in a statement.

"Culturally, Campbell and Pacific Foods share similar values and a commitment to a purpose-driven approach. Philosophically, both companies believe in making food that we are proud to serve at our own tables using simple, recognizable ingredients," Morrison said.

To read about the healthiest and unhealthiest Campbell's soups, click here.