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Campbell Soup completes $2.33 bln Sovos deal after delays
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Campbell Soup completes $2.33 bln Sovos deal after delays
Mar 12, 2024 6:35 AM

March 12 (Reuters) - Campbell Soup ( CPB ) has completed

the acquisition of Rao's Homemade-owner Sovos Brands ( SOVO ),

the U.S. packaged food maker said on Tuesday, weeks after

receiving clearance from the Federal Trade Commission.

The closing of the $2.33-billion deal, announced in August

last year, was pushed to mid-2024 from December after the FTC

requested additional information in October.

However, in February, Campbell said it would close the deal

within days of March 11, the last day for a waiting period to

expire following the issuance of compliance.

Campbell has created a new business unit called "distinctive

brands" within its meals and beverages division to include Sovos

Brands ( SOVO ), which consists of pasta sauces, dry pasta, soups, frozen

pizza and yogurts.

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