Sovos Brands, Inc.
| Subsidiary | |
| ISIN | 🆔 |
| Industry | Food processing |
| Founded 📆 | January 1, 2017 |
| Founders 👔 | Todd Lachman |
| Headquarters 🏙️ | , , U.S. |
Area served 🗺️ | Worldwide |
Key people |
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| Brands |
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| Members | |
Number of employees | |
| Parent |
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| 🌐 Website | thecampbellscompany |
| 📇 Address | |
| 📞 telephone | |
Sovos Brands, Inc. is an American corporation that sells convenience food brands, including Rao's Homemade items, Michael Angelo's frozen entrees, Noosa Yoghurt, and Birch Benders products (cake, waffle, and pancake mixes as well as syrups).[1] It was acquired by Campbell Soup Company in 2024. The Noosa yogurt brand was subsequently sold off.[2]
With its founder Todd Lachman as its CEO, it is headquartered in Louisville, Colorado. Having analyzed more than 200 brands since its founding,[1] the firm has focused on developing products and competing with large companies as it has rapidly gained attention.
Rao's Homemade was 69 percent of Sovos' adjusted net sales in 2022, and its net sales in 2022 were 34.9% more than those in 2021.[3] Lachman said Sovos has done well during the current inflationary period. Consumers have bought more consumer products as opposed to dining out.[4]
Campbell Soup Company had planned to buy Sovos for $2.7 billion by December 2023. However, this deal was extended to 2024 to address questions from the Federal Trade Commission.[5] On March 12, 2024, Campbell's announced that it had completed its acquisition of the company.[6]
References
- ↑ 1.0 1.1 Garcia, Tonya (2021-09-30). "Sovos is Creating a Lineup of Small Brands Designed to Take on Big Food Companies". MarketWatch. Retrieved 2023-08-08.
- ↑ https://www.thecampbellscompany.com/newsroom/press-releases/campbells-to-sell-noosa-business-to-lakeview-farms/
- ↑ Ravipati, Sri (2023-08-08). "Campbell Soup Buys Rao's Parent Company for $2.7 Billion". Axios. Retrieved 2023-08-08.
- ↑ Doering, Christopher (2021-08-16). "As Inflation Rages, Sovos Brands Thrives with a Premium Portfolio". Food Dive. Retrieved 2023-08-08.
- ↑ "Campbell's closing of $2.33 bln Sovos deal pushed to 2024". Reuters. 2023-10-23. Retrieved 2023-10-24.
- ↑ "Campbell Completes Acquisition of Sovos Brands, Inc". Yahoo! Finance. Retrieved 2024-03-13.
External links
Template:Campbell Soup Company
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