On August 6, 2012, Campbell Soup Company completed the acquisition of Bolthouse Farms of Bakersfield, California, a producer of refrigerated juices, smoothies, protein shakes, baby carrots, and salad dressings. The $1.6 billion acquisition was the largest in Campbell's history and was funded through a combination of short- and long-term borrowings. Campbell plans to operate Bolthouse Farms as a separate operating unit maintaining its senior management team. Denise Morrison, Campbell's president and chief executive officer, said in the press release announcing the acquisition, "Bolthouse is a great strategic fit with Campbell its strong position in the high-growth packaged fresh category complements our chilled soup business North America, and offers exciting opportunities for expansion into adjacent packaged fresh segments that respond directly to powerful consumer trends.