America’s most well-known soup brand has made a deal to buy the maker of V8 juices for a reported $1.55 billion.
Campbell Soup Co. agreed to buy Bolthouse Farms on Monday in order to boost its own juice sales. Bolthouse makes the popular line of vegetable-based V8 juices.
V8 accounts for approximately 10 per cent of Bolthouse’s sales, but the company has expanded to selling fresh fruits and vegetables as well as salad dressings and other beverages.
The Bakersfield, Calif.-based V8 maker earned $689 million in sales last year and employs 2,100 people.