Campbell Soup Acquires Sovos Brands, Maker of Rao's Pasta Sauces, for $2.7 Billion

Campbell Soup is acquiring Sovos Brands, owner of Rao's pasta sauces, for $2.7 billion in cash.
The purchase strengthens Campbell's meals and beverages business with premium Italian sauces.
Sovos Brands also owns Michael Angelo's frozen Italian food and noosa yogurt.
The deal is Campbell's largest acquisition since buying Snyder's-Lance in 2017.
The transaction is expected to close by late December after regulatory and shareholder approval.