Consumer packaged goods giants from Campbell Soup Co. (CPB) to General Mills Inc. (GIS) are being pressed by analysts and investors to reverse declining food volumes by acquiring high-growth brands in the natural and organic space. High on their shopping lists are food companies that satisfy key consumer tastes for snacking, high-protein, organic, all-natural, simple-ingredient, gluten-free and allergy-friendly offerings. The list of potential acquirers in addition to Campbell and General Mills includes the likes of Mondelez International Inc. (MDLZ), Hain Celestial Group Inc. (HAIN), J.M. Smucker Co. (SJM), Hershey Co. (HSY), Coca-Cola Co. (KO), PepsiCo Inc. (PEP), Hormel Foods Corp. (HRL), ConAgra Foods Inc. (CAG), WhiteWave Foods Co. (WWAV), B&G Foods Inc. (BGS) and Kellogg Co. (K). Even Dr Pepper Snapple Group Inc. (DPS) has entered the fray, buying a small 3% stake in Bai Brands LLC, a maker of antioxidant-rich beverages, for $15 million in April, valuing the entire company at about $500 million. The Deal’s Jennifer Tekneci reports from New York.
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