India, March 12 -- Campbell Soup Co. (CPB) announced Tuesday it has completed the acquisition of Sovos Brands, Inc. for $23 per share in an all-cash transaction, which represents a total enterprise value of approximately $2.7 billion.
The Sovos Brands portfolio consists of a variety of premium products including pasta sauces, dry pasta, soups, frozen entrees, frozen pizza and yogurts under the brand names Rao's, Michael Angelo's and noosa.
The acquisition of Sovos strengthens and diversifies Campbell's Meals & Beverages portfolio with additional high-growth brands including premium market-leading Rao's sauce, along with Michael Angelo's and noosa.
To drive the continued growth trajectory of these premium brands, the company has formed a ...