Campbell: agreement to acquire Sovos Brands
(CercleFinance.com) - Campbell Soup announces that it has reached an agreement to acquire Sovos Brands for $23 per share in cash, representing a total enterprise value of approximately $2.
7bn.
The food group explains that this transaction will provide it with a portfolio of high-growth, market-leading premium brands, offering a substantial avenue for sustained profitable growth.
Sovos Brands achieved adjusted net sales of $8.37bn in 2022, offering pasta sauces, dry pasta, soups, frozen meals, frozen pizzas and yogurts under the Rao's, Michael Angelo's and Noosa brands.
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