Sovos Brands to be acquired Campbell Soup for $23 per share

Sovos Brands announced a definitive agreement to be acquired by Campbell Soup Company for $23 per share, representing a total enterprise value of approximately $2.7B. “I am pleased to announce that Sovos Brands will be joining the Campbell family, a leading packaged food business aligned with our vision of bringing consumers delicious food for joyful living,” commented CEO Todd Lachman. “When we started Sovos Brands, our ambition was to create a one-of-a-kind, high-growth food company – I am incredibly proud of what we have built, and the value created for all stakeholders. I want to thank the incredibly talented and passionate team at Sovos Brands, which has been instrumental in building one of the fastest growing food companies of scale in the industry today.”