Campbell Soup completes $2.33 bln Sovos deal after delays [Reuters]
Campbell Soup Company (CPB)
Last campbell soup company earnings: 3/4 07:30 am
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Source: Reuters
March 12 (Reuters) - Campbell Soup (CPB.N) , opens new tab has completed the acquisition of Rao's Homemade-owner Sovos Brands (SOVO.O) , opens new tab , the U.S. packaged food maker said on Tuesday, weeks after receiving clearance from the Federal Trade Commission. The closing of the $2.33-billion deal, announced in August last year, was pushed to mid-2024 from December after the FTC requested additional information in October However, in February, Campbell said it would close the deal within days of March 11, the last day for a waiting period to expire following the issuance of compliance. Campbell has created a new business unit called "distinctive brands" within its meals and beverages division to include Sovos Brands, which consists of pasta sauces, dry pasta, soups, frozen pizza and yogurts. Reporting by Granth Vanaik in Bengaluru; Editing by Sriraj Kalluvila Our Standards: The Thomson Reuters Trust Principles. , opens new tab
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