Campbell Soup Co. has made a strategic move by acquiring Sovos Brands, a company that produces popular sauce brand Rao’s, premium frozen-food company Michael Angelo’s, and yogurt brand Noosa, for approximately $2.7 billion. Sovos Brands has experienced rapid growth in recent years, making it an attractive investment for Campbell’s. On the other hand, Sovos stock has seen a 25.6 percent increase, reaching $22.62. Analysts view Campbell’s acquisition of Sovos as a strategic move that strengthens the company’s product portfolio with fast-growing brands. Overall, Campbell Soup Co.’s acquisition of Sovos Brands demonstrates its commitment to expanding its offerings and appealing to a broader consumer base.

Source: Washington Post August 08, 2023 15:47 UTC