Campbell Soup to buy Garden Fresh for $231M

Campbell Soup Co. is expanding its reach in the fresh-food aisle with a deal to acquire Garden Fresh Gourmet Inc., a maker of salsa and hummus with about $100 million in annual sales.

Campbell officials said the company would pay $231 million for Michigan-based Garden Fresh, which has the best-selling brand of refrigerated salsa in the U.S., according to Reuters. However, its products are largely concentrated in the Great Lakes region.

Campbell Soup CEO Denise Morrison said the deal would improve the company's strategy to up its sales of organic foods.

Read more from Reuters.