Eh, what's up, Doc? What's up is the crop at Bolthouse Farms. The company is one of the country's largest producers of fresh-cut carrots. Bolthouse offers all things carrot, including fresh and frozen whole carrots, carrot sticks and chips, carrot (and other) chilled juices and smoothies, and those cute little pre-cut and pre-peeled baby carrots for both retail consumers and food service industry customers. Its other products include orange juice, passion fruit juice, fruit smoothies, chai tea, Bom Dia açaí juice, and lemonade. The company also makes a line of Bolthouse Farms-branded salad dressings. Bolthouse Farms is owned by Campbell Soup Co.
Soup-giant Campbell acquired Bolthouse Farms for more than $1.5 billion in August 2012 from Madison Dearborn Partners. Under its new owner, Bolthouse operates as the Bolthouse and Foodservice segment of Campbell and continues to be run by its current management. The soup maker is thirsty for Bolthouse's premium beverage offerings to complement its V8 line. Also, the carrots business will allow Campbell Soup to expand in the healthy snacking category.
Bolthouse Farms grows its carrots year-round and ships more than 35,000 tons of Bugs' favorite every month. In addition to its own farms, Bolthouse also processes the carrot crops of other California growers. To meet demand, Bolthouse has a supply agreement with Peter Rabbit Farms.
Sales and Marketing
Bolthouse's products are available throughout the US at such retailers as Whole Foods, Wild Oats, Albertsons, Jewel-Osco, Kroger, Target, and Wal-Mart.
Bolthouse accounted for about 9% of Campbell Soup's $8 billion in sales in fiscal 2013 (ended July), or $756 million. The year before it joined Campbell, the company reported annual sales of $689 million. From 2010 through 2012, Bolthouse had compound annual net sales growth of 7%. Carrots account for slightly more than half of Bolthouse's revenue, while beverages and salad dressings make up about a third.
New-owner Campbell Soup expects to drive growth at Bolthouse Farms by leveraging its innovation pipeline and investing in brand building.