Campbell is buying Rao’s. Fans are worried, but the soup maker says it won’t touch the sauce
. According to Monday’s press release, Rao’s is Sovos’ most popular brand, representing about 69% of the company’s $837 million in adjusted net sales last year.
Lachman added that the transaction “creates substantial value” for shareholders, with the purchase price nearly double the $12 that Sovos Brands priced its initial public offering in September 2021.
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