July 9, 2012 3:45pm EST –
- Campbell Soup (NYSE: CPB) is buying privately-held Bolthouse Farms (PrivCo Private Ticker: BOLTP) from private equity firm Madison Dearborn Partners and other owners for $1.55 Billion
- Madison Dearborn Partners acquired 57% of Bolthouse Farms in October 2005 for $638 million
- In March 2012, Madison Dearborn Partners was rumored to be exploring a $2.0 billion IPO for Bolthouse Farms
- "According to PrivCo research, privately-held Bolthouse Farms derives more than 50% of its revenue from growing and selling fresh bagged carrots, a perishable produce product that is materially different from Campbell Soup's core canned foods business, which by definition never rots" said PrivCo CEO Sam Hamadeh. "Today's acquisition indicates Campbell and other canned food companies may now have their eyes on acquiring other large privately-held fresh produce companies."