PE firm Advent 'mulls IPO for US group Sovos Brands'
Sovos's Noosa yogurt brand Private-equity firm Advent International is reportedly considering an initial public offering for Sovos Brands, its US food business. News agency Bloomberg, quoting unnamed sources, said Advent is working with an adviser to weigh alternatives for California-based Sovos, which owns brands such as Rao's pasta sauce, Michael Angelo's frozen meals and Noosa yogurt. It said these alternatives could also include a sale of the business. Bloomberg suggested Sovos could fetch US$2bn-$3bn in a transaction. Sovos was set up in 2016 by Boston, Massachusetts-based Advent to...
Source: just-food.com