Campbell Soup to buy Sovos Brands for $2.33 bln (updated)

Sovos Brands

07/08/2023 12:12

(Adds further details in paragraph 2,3)
       Aug 7 (Reuters) - Packaged food maker Campbell Soup
 CPB.N  said on Monday it would acquire Sovos Brands  SOVO.O 
for $2.33 billion.
    Campbell will pay $23 per share in cash for the pasta sauce
maker, representing a nearly 28% premium on the stock's last
close.
    The deal would help Campbell diversify its meals & beverages
division, the company said in a statement.
    
    

 (Reporting by Savyata Mishra in Bengaluru; Editing by Savio
D'Souza and Shweta Agarwal)
 ((Savyata.Mishra@thomsonreuters.com;))