Campbell's makes saucy purchase, buys out Rao's for $2.7 billion
The Campbell Soup Company announced Monday it is acquiring Sovos Brands, which makes the popular pasta sauce Rao's, with an all-cash $2.7 billion offer.
According to Campbell's, Sovos Brands had $837 million a year in net sales in 2022. The soup maker said it hopes with the acquisition to have a $1 billion annual sauce business.
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Campbell Soup Acquires Rao's Sauce Maker for $2.7BCampbell Soup has announced its acquisition of Sovos Brands, including Rao's pasta sauce and Michael Angelo's frozen meals, for $2.7 billion. Campbell Soup CEO Mark Clouse expressed confidence in the company's focused strategy and its ability to generate strong cash flow to reduce debt.
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Campbell Soup Acquires Rao's, the Beloved Pasta Sauce BrandOn Monday, Campbell Soup Co. announced its' purchase of Sovos Brands, making the fan-favorite sauce brand Rao’s as well as premium frozen-food company Michael Angelo’s and the yogurt brand Noosa, for about $2.7 billion.
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Chicken noodle soup king Campbell just spent $2.7 billion to buy Rao's saucesRao's — which went public in 2021 — will join a Campbell sauce portfolio consisting of lower priced Prego and Swanson broths. The company posted $878.4 million in net sales last year and $67.8 million in net income.
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Campbell to buy Rao’s premium sauces maker Sovos for $2.33 billionU.S. packaged food maker Campbell Soup will buy Michael Angelo’s and Rao’s owner Sovos Brands for $2.33 billion in cash, the company said on Monday, beefing up its meals and beverages b…
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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.
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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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