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M&A Deal Summary

Campbell s Acquires Sovos Brands

On August 7, 2023, Campbell s acquired food company Sovos Brands for 2.7B USD

Acquisition Highlights
  • This is Campbell s’ 13th transaction in the Food sector.
  • This is Campbell s’ 2nd largest (disclosed) transaction.
  • This is Campbell s’ 9th transaction in the United States.
  • This is Campbell s’ 3rd transaction in California.

M&A Deal Summary
Date 2023-08-07
Target Sovos Brands
Sector Food
Buyer(s) Campbell s
Deal Type Merger
Deal Value 2.7B USD
Advisor(s) Goldman Sachs
Centerview Partners (Financial)
Hogan Lovells
Richards, Layton & Finger (Legal)

Target

Sovos Brands

Berkeley, California, United States
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

Campbell s

Camden, New Jersey, United States
Category Company
Founded 1869
Sector Food
Employees14,400
Revenue 9.6B USD (2024)
DESCRIPTION
Entrance to Campbell Soup Co.'s corporate headquarters in Camden, New Jersey.
Entrance to Campbell Soup Co.'s corporate headquarters in Camden, New Jersey.

Campbell's is an American producer of canned soups and related products. Campbell's products are sold in 120 countries around the world. Campbell's was incorporated in 1869 and is based in Camden, New Jersey.

DEAL STATS #
Overall 14 of 14
Sector: Food M&A 13 of 13
Type: Merger M&A Deals 1 of 1
State: California M&A 3 of 3
Country: United States M&A 9 of 9
Year: 2023 M&A 1 of 1
Size (of disclosed) 2 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-05-30 Emerald Nuts

Charlotte, North Carolina, United States

Emerald Nuts is a manufacturer of snack nuts, culinary nuts, trail mixes and other nut-based snacks. Emerald Nuts is based in Charlotte, North Carolina.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-08-26 Pop Secret

Charlotte, North Carolina, United States

Pop Secret is a popcorn brand that offers different flavored popcorn. Pop Secret is based in Charlotte, North Carolina.

Sell -
Mergr

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