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"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 said.
Campbell Soup CEO Mark Clouse discussed his company's acquisition of Rao's sauce maker, Sovos Brands, with CNBC's Jim Cramer on Monday.
Campbell Soup announced Monday it will buy Sovos Brands for $2.7 billion, or $23 per share. Sovos's portfolio includes Rao's pasta sauce and Michael Angelo's frozen meals.
By Eva Rothenberg, CNN
"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 said.