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Campbell Soup Co. (NYSE: CPB) this week completed its $2.7 billion acquisition of Sovos Brands Inc. (Nasdaq: SOVO), carving out a new business unit to house the Louisville-based food-umbrella company.
The upcoming acquisition of Sovos Brands Inc. (Nasdaq: SOVO) by food giant Campbell Soup Co. (NYSE:CPB) may result in the elimination of some redundant administrative operations at Sovos’ Louisville headquarters and the offloading of the Bellvue-based Noosa Yoghurt brand.
Sovos Brands is a premium packaged foods company that did an IPO in September 2021 and is growing annual revenues at a rapid pace. Read more about SOVO stock here.