Campbell Soup Company Acquires Sovos Brands for $2.7 Billion

Campbell announced Monday that it would acquire Sovos Brands, maker of the popular Italian food brands like Rao’s sauces and Michael Angelo’s frozen entrees, as well as noosa yogurt, in a deal worth $2.7 billion. “We’re thrilled to add the most compelling growth story in the food industry and welcome the talented employees who have built a nearly $1 billion portfolio,” Campbell’s president and CEO Mark Clouse said in a statement.

“It also provides an opportunity for expansion to adjacent categories like frozen meals, dry pasta, premium ready to serve soups.” By acquiring premium frozen meal brand Michael Angelo’s, Campbell will also beef up the frozen food portfolio it already owns under its Pepperidge Farm’s brand.

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Campbell to Acquire Parent Company of Rao's for $2.7 BillionCampbell Soup Co. has announced its agreement to acquire Sovos Brands, Inc., the parent company of Rao's, famous for its pasta sauces. The acquisition is valued at $2.7 billion. Sovos Brands' CEO expressed confidence in Campbell's ability to expand their products to more households.
Source: PhillyDailyNews - 🏆 89. / 67 Read more »

Campbell to Acquire Rao's Premium Sauces Parent Company for $2.7 BillionCampbell is expanding its portfolio of premium brands by acquiring Sovos Brands, the parent company of Rao's and noosa. The acquisition aims to bring the signature taste of the legendary 10-table New York City restaurant to home cooks.
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