Campbell Soup expects to close Sovos Brands deal 'within days' of March 11

Sovos Brands

13/02/2024 22:29

Feb 13 (Reuters) - Campbell Soup  CPB.N  said on Tuesday
that it expects to close its $2.33 billion acquisition of Rao's
Homemade items owner Sovos Brands  SOVO.O  within days of March
11 after receiving a certification of compliance from the United
States Federal Trade Commission (FTC).
    The FTC had requested additional information on the
transaction in October last year as part of its review of
Campbell's proposed acquisition of Sovos, a premium Italian
sauces maker.
    The certification triggers the start of a 30-day waiting
period, set to expire on March 11, after which the sale can be
finalized.
    Campbell, which had previously expected the transaction to
close in mid-2024, said it will close within days of the waiting
period ending.
    Shares of Sovos Brands were up about 1% in extended trade.
    

 (Reporting by Juveria Tabassum; Editing by Tasim Zahid)
 ((Juveria.Tabassum@thomsonreuters.com;))