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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

Published Wed, Jun 10, 2015 · 09:50 PM
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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 the last five years, that amount was easily eclipsed when Brazilian private-equity firm 3G Capital Inc and Warren Buffett's Berkshire Hathaway announced plans to buy Kraft Foods Group and merge it with HJ Heinz Co. The deal is valued at about US$55.4 billion, according to Kenneth Shea, an analyst at Bloomberg Intelligence.

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