The late Bolthouse grew up on a family farm … Proceeds from the divestitures will be used to reduce debt by approximately $570 million, according to the company. Based in Bakersfield, Calif., and Santa Monica, Calif., Bolthouse Farms manufactures and markets fresh carrots, refrigerated premium beverages and refrigerated salad dressings. As part of the transaction, Butterfly’s Operating Partner Jeff Dunn will assume the role of CEO of Bolthouse Farms. Company showcases new meat snacks, seeds, popcorn, sweets and more at the online NACS show. The Bolthouse family sold the company to Chicago-based private equity firm Madison Dearborn Partners LLC in 2005. The sale completes the plan announced in August to unwind the Campbell Fresh division as part of the company’s plan to narrow its focus and reduce debt. With a century worth of roots in carrot farming, we wake … “We can’t wait to get started.”. By continuing to browse the site you are agreeing to our use of cookies in accordance with our. Headquartered in Bakersfield, Calif., Bolthouse Farms has nearly 100 years of farming expertise and innovation. At Bolthouse Farms, we believe in making better choices about how our food is grown. The company's president is Andre Radandt. The Company offers farming, product development, and marketing services, as well as provides irrigation and soil depletion prevention programs. That’s why we’re committed to creating healthier products that help people trade up from the alternative. The process to divest Campbell International is ongoing, according to the company. It is now losing money. The Company offers farming, product development, and marketing services, as well as provides irrigation and soil depletion prevention programs. This transaction marks Butterfly’s fourth investment within its “seed to fork” approach. Producer of vegetable and fruits products. “The sale of Bolthouse Farms supports our strategy to focus on our two core North American businesses, Campbell Snacks and Campbell Meals and Beverages, where we have iconic brands and strong market positions,” said Mark Clouse, president and c.e.o. After months on the market, Bolthouse Farms—a vertically-integrated food and beverage company focused on developing, manufacturing, and marketing proprietary, high value-added natural, healthy products—has officially been acquired. Bolthouse Farms is owned by Campbell Soup Co. Operations. Bolthouse was founded by William Herman Bolthouse, who died a year ago at age 89. The company's president is Andre Radandt. Carrots, smoothies, juices, and dressings to be reckoned with – Crafted by a Bunch of Carrot Farmers. simple meals business, Nestle to sell North America pasta business to private equity firm, Smucker to sell U.S. baking business to private equity firm, Tyson Foods to sell pizza crust business to private equity firm, Plant-based oils and fats: Selecting the right one for your plant-based meat application, Dow index closes above 30,000 points for first time, Slideshow: New products from Nestle, General Mills, LesserEvil, Ten trends emerging in the aftermath of COVID-19. Bolthouse Farms operates over 65,000 acres of growing land; facilities in California, Illinois, Ontario, and Washington; nationwide fresh distribution capabilities; and a state-of-the-art carrot and beverage processing plant, according to a press release. LOS ANGELES, CA - Bolthouse Farms is officially under a new company, after months on the market.Private equity firm Butterfly announced today that it has signed a definitive agreement to acquire the formerly Campbell Soup Company-owned fresh food supplier for $510 million in cash. Mr. Dunn will again assume the role of c.e.o. The company employs approximately 2,200 workers. Campbell Soup Co. is coming to the end of final talks to sell its Bolthouse Farms brand to an investor group headed by its former CEO Jeff Dunn, according to The Wall Street Journal and CNBC. Bolthouse Farms provides agricultural operations. The Campbell Fresh business unit had net sales of $970 million in 2018. The closing of the transaction is subject to regulatory approvals and customary closing conditions and is expected to occur in summer 2019. LOS ANGELES — Butterfly Equity, a private equity firm focused on the food sector, has agreed to acquire Bolthouse Farms from Campbell Soup … Traditional tastes are translated into fresh formats. For more acquisitions, mergers, and sales hot off the press, keep reading Deli Market News. After months on the market, Bolthouse Farms—a vertically-integrated food and beverage company focused on developing, manufacturing, and marketing proprietary, high value-added natural, healthy products—has officially been acquired.Private equity firm Butterfly announced today that it has signed a definitive agreement to acquire the former Campbell Soup Company-owned fresh food … Bolthouse Farms benefits from access to over 65,000 acres of premium growing land, nationwide fresh distribution capabilities, and a state-of-the-art carrot and beverage processing facility. This transaction marks Butterfly’s fourth investment within its “seed to fork” approach. It markets and sells its beverages and dressings under the “Bolthouse Farms” brand, and its carrots under the “Bolthouse Farms,” “Earthbound Farms” and “Green Giant” brands, as … The late Bolthouse … The company employs approximately 2,200 people and has facilities in Bakersfield; Hodgkins, Ill.; Wheatley, Ont. Possible suitors for the company’s Arnott’s cookie and cracker brands include Mondelez International, Inc., Ferrero Group, Kraft Heinz Co. and a couple consortiums backed by private equity firms, according to reports. In addition to its own farms, Bolthouse also processes the carrot crops of other California growers. Bolthouse Farms marks the firm’s fourth investment. “We can’t wait to get started.”. Design, CMS, Hosting & Web Development :: Subscribe to Food Business News' free newsletters to stay up to date about the latest food and beverage news. Bolthouse Farms grows its carrots year-round and ships more than 35,000 tons of Bugs' favorite every month. The company. Upon completion of the sale, Campbell Soup Co. will have divested its entire Campbell Fresh division as part of previously announced plans to streamline operations. Bolthouse was founded by William Herman Bolthouse, who died a year ago at age 89. Bolthouse Farms is owned by Campbell Soup Co. The Camden, N.J.-based company previously announced the sales of Garden Fresh Gourmet and a refrigerated soup plant in Everett, Wash. He previously served as Bolthouse Farms’ President and CEO from 2008 to 2016. “Bolthouse Farms holds a special place in the produce industry, and my team and I are deeply committed to strengthening and broadening Bolthouse Farms’ unique legacy,” Mr. Dunn said. Private equity firm to buy Campbell E.U. “We are proud to support Bolthouse Farms in further bolstering its strong positioning within fresh carrots and chilled premium beverages, and are excited to back a group of seasoned operators as passionate about produce as Jeff and his team to lead what is already a strong organization,” said Dustin Beck, Butterfly’s Co-Founder. Campbell Soup Co. has reached an agreement to sell Bolthouse Farms for $510 million, the California carrot and refrigerated beverage producer that it bought in 2012 for $1.55 billion. He continued to lead Bolthouse Farms for Campbell Soup Co. as president of the Campbell Fresh division until his departure from the company in 2016. of Campbell Soup. Campbell paid $1.55 billion for Bolthouse Farms in 2012, when the brand had more than $100 million in earnings before interest, taxes, depreciation and amortization. “Bolthouse Farms holds a special place in the produce industry and my team and I are deeply committed to strengthening and broadening Bolthouse Farms’ unique legacy,” said Dunn. Private equity firm Butterfly announced today that it has signed a definitive agreement to acquire the former Campbell Soup Company-owned fresh food supplier for $510 million in cash. Bolthouse Farms General Information Description. ; and Prosser, Wash. Butterfly operating partner Jeff Dunn previously led the Bolthouse Farms business as president and chief executive officer from 2008 to 2012, when it was acquired by the Campbell Soup Co. Bolthouse's other products include orange juice, passion fruit juice, fruit smoothies, chai tea, Bom Dia açaí juice, and lemonade. At the time of the Bolthouse's sale in mid-2012, the company employed 2,100 employees. The company engages in growing and processing organic carrots, frozen carrots, carrot juice concentrate and carrot fiber, enabling its customers to avail fresh produces straight from the farm. We use compost to amend the soil on a regular basis, to replenish organic matter and nurture the roots. As outlined in a board-led strategy and portfolio review this past August, Campbell said it would divest both its Campbell Fresh and Campbell International businesses. Butterfly Equity specializes in “seed to fork” investments across agriculture, aquaculture, food and beverage products, food distribution and food service.