Campbell Soup Co. (NYSE: CPB) is looking to expand beyond the famed canned soups line by spending $1.55 billion in cash for natural foods maker Bolthouse Farms Inc.

Camden, N.J.-based Campbell is purchasing Bolthouse’s line of products from private equity firm Madison Dearborn Partners LLC as a way to diversify its offerings.

Bolthouse, founded in 1915 and headquartered in Bakersfield, Calif., is known for packaged carrots, juices and salad dressings. Chicago-based Madison Dearborn invested in Bolthouse in a 2005 deal reportedly valued at $1.1 billion.

Credit Suisse Securities (USA) LLC along with Goldman Sachs & Co. ran the sale process for Bolthouse, while law firm Kirkland & Ellis LLP provided legal counsel.

Campbell tapped Morgan Stanley and Davis Polk & Wardwell LLP for buy-side financial and legal guidance, respectively.