M&A TRANSACTION · 2024
Sovos Brands acquired by Campbell Soup Company
$2.70B· 14.6x EBITDA· 2.70x revenue
Target
Sovos Brands
Louisville, Colorado
Premium food company with Rao's sauces, Michael Angelo's frozen entrees, noosa yogurt
Acquirer
Campbell Soup Company
Strategic buyer
Disclosed financials at time of acquisition
Revenue
$1000.0M
EBITDA
$185.0M
Deal Value
$2.70B
EV/EBITDA
14.6x
Context
This $2.70B acquisition of Sovos Brands by Campbell Soup Company sits in the food manufacturing sub-vertical. The 14.6x EBITDA multiple paid in 2024 can be compared against the population median for food manufacturing transactions of similar size on our Food Manufacturing valuation hub. Campbell Soup Company is acquiring as a strategic buyer; see how strategic acquirers typically price food manufacturing businesses on our Food Manufacturing strategic buyer-pool page.
Source
Data sourced from Campbell Soup Press Release — primary source. All figures reflect disclosed values at the time of the acquisition; no estimated or imputed data. Methodology
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