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Campbell Soup is set to buy Sovos Brands, the maker of Rao’s pasta sauces. In a Monday announcement, the two companies said they had entered an agreement for Campbell’s to
CAMDEN, N.J., and LOUISVILLE, Colo. — Campbell Soup Co. and Sovos Brands, Inc. have announced the companies have entered into an agreement for Campbell to acquire Sovos Brands, Inc. for
Iconic canned soup company Campbell is expanding its reach in the Italian food market.
Campbell Soup CEO Mark Clouse discussed his company’s acquisition of Rao’s sauce maker, Sovos Brands, with CNBC’s Jim Cramer on Monday.
Justin Sullivan/Getty Images(NEW YORK) -- The Campbell Soup Company is expanding its presence on grocery store shelves with a new deal to acquire Sovos Brands Inc., the maker of Rao's pasta sauces and noosa yogurt. At $23 per share, the total enterprise value of the acquisition is approximately $2.7 billion, the companies announced in a joint press release on Monday. The premium pasta sauces first hit shelves in 1992 to bring home cooks a signature taste of the legendary 10-table New York City restaurant. The Campbell's meals and beverages division made the "strategic decision" to ad...