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N America packaged-food M&As hit 6-year high

Campbell is the latest to use acquisitions to gain more up-to-date products and reinvigorate sales

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While the average deal volume in North American packaged foods has been US$32 billion over the last five years, that amount was easily eclipsed when 3G Capital and Berkshire Hathaway announced plans to buy Kraft Foods Group and merge it with HJ Heinz Co.

New York

CAMPBELL Soup Co's purchase of Garden Fresh Gourmet pushed the value of deals among North American packaged-food companies this year to US$66.3 billion, the most since at least 2009.

While the average deal volume in North American packaged foods has been US$32 billion over

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