Campbell's makes saucy purchase, buys out Rao's for $2.7 billion
The Campbell Soup Company announced Monday it is acquiring Sovos Brands, which makes the popular pasta sauce Rao's, with an all-cash $2.7 billion offer.
According to Campbell's, Sovos Brands had $837 million a year in net sales in 2022. The soup maker said it hopes with the acquisition to have a $1 billion annual sauce business.
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