{"id":4145,"date":"2023-08-29T16:17:48","date_gmt":"2023-08-29T16:17:48","guid":{"rendered":"https:\/\/jamieson.local\/deals\/sovos-brands-inc\/"},"modified":"2023-08-29T16:22:03","modified_gmt":"2023-08-29T16:22:03","slug":"sovos-brands-inc","status":"publish","type":"deals","link":"https:\/\/jamiesoncf.com\/nl\/deals\/sovos-brands-inc\/","title":{"rendered":"Sovos Brands, Inc"},"content":{"rendered":"<p style=\"background: white; margin: 0cm 0cm 12.0pt 0cm;\"><span lang=\"EN-US\" style=\"font-family: Roboto; color: #02283f;\">Jamieson is pleased to announce that it has advised Sovos Brands, Inc. in connection with the announced acquisition of Sovos Brands by Campbell\u2019s Soup Company for $23 per share in cash, representing a total enterprise value of approximately $2.7 billion. This transaction is expected to close in the fourth quarter of 2023. The announcement follows the IPO of Sovos Brands in 2021 in which Advent International retained a majority stake after originally funding the creation of the business in 2017. <\/span><\/p>\n<p style=\"background: white; margin: 0cm 0cm 12.0pt 0cm;\"><span lang=\"EN-US\" style=\"font-family: Roboto; color: #02283f;\">Sovos Brands, headquartered in Louisville, Colorado, is a high growth, purposefully built food company focused on taste-led products across a portfolio of premium brands, anchored by the <i>Rao\u2019s<\/i> brand. Its portfolio of products includes premium pasta sauces, dry pastas, soups, frozen entrees, frozen pizza, yogurt, and gelato.<\/span><\/p>\n<p style=\"background: white; margin: 0cm 0cm 12.0pt 0cm;\"><span lang=\"EN-US\" style=\"font-family: Roboto; color: #02283f;\">This transaction represents a 14.6x adjusted EBITDA multiple, including expected annualized cost synergies, reaching expected annual run rate synergies of approximately $50 million, and a 92% increase from Sovos Brands\u2019 2021 IPO price. The strategic transaction adds a high-growth, market-leading premium portfolio of brands to diversify and enhance Campbell\u2019s Meals &amp; Beverages division, providing a substantial runway for sustained profitable growth.<\/span><\/p>\n<p><a href=\"https:\/\/jamiesoncf.com\/nl\/team\/mike-sirkin\/\">Michael Sirkin<\/a>,\u00a0<a href=\"https:\/\/jamiesoncf.com\/nl\/team\/ian-rosamilia\/\">Ian Rosamilia<\/a> and\u00a0<a href=\"https:\/\/jamiesoncf.com\/nl\/team\/whitney-cook\/\">Whitney Cook<\/a> <span lang=\"EN-US\" style=\"font-family: Roboto; color: #02283f;\">advised Sovos Brands on the treatment of equity arrangements in connection with the sale.<\/span><\/p>\n<p style=\"background: white; margin: 0cm 0cm 12.0pt 0cm;\"><span lang=\"EN-US\" style=\"font-family: Roboto; color: #02283f;\">Jamieson Corporate Finance US, LLC is a member of FINRA\/SIPC<\/span><\/p>\n","protected":false},"featured_media":4143,"template":"","deal-size":[81],"deal-location":[20],"deal-sector":[82],"deal-service":[91],"class_list":["post-4145","deals","type-deals","status-publish","has-post-thumbnail","hentry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Sovos Brands, Inc &#8211; Jamieson<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/jamiesoncf.com\/nl\/deals\/sovos-brands-inc\/\" \/>\n<meta property=\"og:locale\" content=\"nl_NL\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sovos Brands, Inc &#8211; Jamieson\" \/>\n<meta property=\"og:description\" content=\"Jamieson is pleased to announce that it has advised Sovos Brands, Inc. in connection with the announced acquisition of Sovos Brands by Campbell\u2019s Soup Company for $23 per share in cash, representing a total enterprise value of approximately $2.7 billion. 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