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Date	Status	Stake Acquired	Deal Price	Deal Type	Currency Used
July 2012	Completed	100%	$1,550,000,000	Acquisition	Cash

Target	Buyer	Seller
Bolthouse Farms Bakersfield, California, United States Industries: Fruit & Vegetable Juices, Health Food, Sauces, Condiments & Flavorings, Fresh Produce Wholesale Distribution Advisor: Credit Suisse Group AG Advisor: The Goldman Sachs Group, Inc. Advisor: Kirkland & Ellis LLP	Campbell Soup Company Camden, New Jersey, United States Stake Acquired: 100 % Advisor: Davis Polk & Wardwell LLP Advisor: Morgan Stanley	Madison Dearborn Partners, Inc. Chicago, Illinois, United States

Deal Amount
Deal Price	$1,550,000,000
Cash Amount	$1,550,000,000
Enterprise Value (EV)	$1,550,000,000

Financials for Target: Bolthouse Farms		Transaction Multiples		Transaction Multiples w/ Max. Contingency
Total Assets	N/A	EV / A		EV / A
Stockholder's Equity	N/A	EV / SE		EV / SE
Revenues 2012	$689,000,000	EV / R	2.2x	EV / R
Net Income (Loss)	N/A	EV / E		EV / E
Cash Flow	N/A	EV / CF		EV / CF
EBITDA 2012	$140,900,000	EV / EBITDA	11x	EV / EBITDA
Operating Income (Loss) 2012	$163,000,000	EV / OI	9.5x	EV / OI

Deal Notes

As of July 2012, this deal is the biggest in Campbell's history. Campbell plans to finance the transaction by taking on additional debt.

Termination Fees
Has Ability to Solicit?	No
Has Termination Fee?	No
Target Balance Sheet
Has Other Assumed Liabilities?	Yes

Business Description for Target: Bolthouse Farms

Bolthouse Farms, Inc. engages in vegetable farming and distribution while offering carrots and carrot products, vegetable beverages, and salad dressings.

Business Description for Seller: Madison Dearborn Partners, Inc.

Madison Dearborn Partners, Inc. is a Chicago, Illinois-based private equity firm. Founded in 1993, Madison Dearborn Partners, Inc. considers buyouts and acquisitions and restructurings and special situations.

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Campbell Soup Company Acquires Bolthouse Farms

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Campbell Soup Company Acquires Bolthouse Farms

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