Sovos Brands Inc.
- Sovos Brands Inc soared 25% to $22.52 after the pasta sauce maker agreed to be acquired by Campbell Soup for $2.33 billion or $23 a share.
Including the debt, the purchase price is $2.7 billion and Campbell said it plans to finance part of the deal with the help of new debt.
Separately, Sovos reported organic sales in its latest quarter jumped 16.3% from a year ago.
Three months ago, Campbell Soup agreed to sell Emerald Nuts for an undisclosed amount to Flagstone Foods.
Aug 7, 2023
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