Campbell Soup Set to Acquire Iconic Italian Food Brand Rao’s and Parent Company Sovos Brands for $2.33 Billion
Campbell Soup announced on Monday that it will acquire Sovos Brands, the parent company of Michael Angelo’s and Rao’s, for $2.33 billion in cash. The move marks a strategic expansion of Campbell’s meals and beverages segment by incorporating Sovos’ premium Italian sauces. “We’re thrilled to add the most compelling growth story in the food industry…