Campbell is buying Rao’s. Fans are worried, but the soup maker says it won't touch the sauce
Campbell Soup is set to buy Sovos Brands, the maker of Rao’s pasta sauces. In a Monday announcement, the two companies said they had entered an agreement for Campbell’s to acquire Sovos for $23 per share in cash — reflecting a total value of about $2.7 billion. The transaction will help diversify and strengthen Campbell’s Meals & Beverages division, Campbell’s President and CEO Mark Clouse said in a statement. Campbell intends to finance the Sovos acquisition with the issuance of new debt. The transaction’s closing is expected for December... Читать дальше...