M&A Deal Summary

Advent International Acquires Sovos Brands

On June 8, 2017, private equity firm Advent International acquired food company Sovos Brands

Acquisition Highlights
  • This is Advent International’s 9th transaction in the Food sector.
  • This is Advent International’s 71st transaction in the United States.
  • This is Advent International’s 7th transaction in California.
Investment Fate
  • Sovos Brands went public in 2021.
  • Sovos Brands merged with another company in 2023 for 2.7B USD.

M&A Deal Summary
Date 2017-06-08
Target Sovos Brands
Sector Food
Buyer(s) Advent International
Deal Type Consolidation
Advisor(s) Weil Gotshal & Manges (Legal)

Target

Sovos Brands

Berkeley, California, United States
website
Sovos Brands is formed to acquire and build a portfolio of food and beverage brands. Sovos Brands invest in unique brands that have exciting growth potential, combining industry expertise with fresh thinking to bring our products into more homes across America. Sovos Brands was founded in 2017 and is based in Berkeley, California.

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Buyer(S) 1

Buyer

Advent International

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1984
PE ASSETS 76.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Advent is a global private equity firm that targets investments in North America, Europe, Asia, and Latin America. Advent's emerging market efforts are concentrated in Central Europe and Latin America. Advent seeks transactions valued between $50 million and $5 billion and can commit up to $2 billion of equity capital per investment. Broad areas of interest include business & financial services, retail & consumer, technology, media, & telecoms, healthcare & life sciences, and industrial. Prospective transaction types include buyouts, growth capital financings, take privates, and recapitalizations. Advent was formed in 1984 and is based in Boston, Massachusetts.

DEAL STATS #
Overall 247 of 330
Sector (Food) 9 of 11
Type (Consolidation) 2 of 3
State (California) 7 of 13
Country (United States) 71 of 100
Year (2017) 7 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-07 Canvia

Miraflores, Peru

Canvia is a company that promotes and supports the digital transformation of its customers. The company developed Fast Innovation® is an innovative methodology for Startups that have managed to adapt and scale to consolidated companies. Canvia was founded in 2017 and is based in Miraflores, Peru.

Buy $85M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-12 Brammer

Knutsford, United Kingdom

Brammer plc is a distribution company offering a single source of supply, with an unrivalled and competitively priced product range from the world’s most respected manufacturers, supported by online ordering and a state of the art distribution network. Brammer draws on a rich heritage of industrial and mechanical knowledge. Company serve more than 100,000 customers in every manufacturing sector, leveraging pan-European network and offering added value technical expertise combined with in-depth, industry specific understanding on a regional and local level.

Sell -
Mergr

Product

Company

Legal