Campbell Soup and Sovos Brands Certify Compliance for Acquisition

Campbell Soup Co. and Sovos Brands Inc. have certified substantial compliance with the Request for Additional Information and Documentary Materials (“Second Request”) issued by the Federal Trade Commission (FTC) regarding Campbell’s proposed acquisition of Sovos Brands.

“We’re excited to be one step closer to completing the acquisition and welcoming the talented Sovos Brands employees to Campbell’s team,” said Campbell’s president and CEO Mark Clouse. “The Sovos Brands portfolio strengthens our Meals & Beverages division, and paired with our fast-growing Snacks division, will create one of the best portfolios in the industry and make Campbell one of the most dependable, growth-oriented names in food.”

The certification of substantial compliance triggers the start of a 30-day waiting period expected to expire March 11, 2024, after which the sale can be finalized. Subject to the satisfaction or waiver of customary closing conditions, the companies expect to complete the transaction within days of the expiration date.

“We are delighted to reach this critically important milestone in the completion of the acquisition. We remain highly confident in Campbell’s ability to continue bringing our products to more households and further building on our track record as one of the fastest growing food companies of scale in the United States,” commented Todd Lachman, founder and CEO of Sovos Brands.

The announcement of Campbell Soup's acquisition of Sovos Brands for $2.7 billion first came out last August. Sovos Brands produces Michael Angelo's and Rao's pasta sauces, Noosa yogurt, and other products.