On 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.
it had purchased Sovos Brands, which makes 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.Campbell’s noted that Sovos has grown rapidly in the last few years and said the acquisition bolsters its offerings in the meals and beverages category. It said the move also means wider distribution and more shelf space for the Sovos products.
Rao’s, which originated from the popular Italian restaurant in New York of the same name, was a big get for Campbell’s. The soup company noted that Rao’s — which has grown to include a line of sauces, pastas and soups — was responsible for nearly 70 percent of Sovos’s sales in 2022.
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Campbell to buy Rao's premium sauces maker Sovos for $2.33 blnU.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 business with the maker of premium Italian sauces.
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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 Soup Company Acquires Sovos Brands for $2.7 BillionCampbell Soup Company is expanding its presence in the Italian food market with the acquisition of Sovos Brands, the maker of popular Italian food brands such as Rao's sauces and Michael Angelo's frozen entrees. The deal, valued at $2.7 billion, also includes the acquisition of noosa yogurt.
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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 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 to acquire Rao’s parent Sovos Brands in cash deal valued at about $2.7 billionAn earlier version of this article had a typo in the price Campbell Soup is paying. The price is $23 not $32. The article has been corrected. Campbell Soup...
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