Sovos Brands
TypePublic
IndustryFood processing
FoundedJanuary 1, 2017
FoundersTodd Lachman
Headquarters
Louisville, Colorado
,
U.S.
Area served
Worldwide
BrandsRao's Homemade, Michael Angelo's, Noosa, Birch Benders
Websitesovosbrands.com

Sovos Brands is an American corporation that sells convenience food brands, including Rao's Homemade items, Michael Angelo's frozen entrees, Noosa's Yoghurt, and Birch Benders products (cake, waffle, and pancake mixes as well as syrups).[1]

Since the company began on January 17, 2017, it has analyzed over 200 brands.[2] It has been focused on developing products and competing with large companies as it has rapidly acquired attention.

Todd Lachman is the founder and CEO. The company is headquartered in Louisville, Colorado southeast of Boulder, Colorado.

Industry

Rao's Homemade was 69 percent of Sovos' adjusted net sales in 2022, and its net sales in 2022 were 34.9% more than those in 2021.[3] Kirk Jensen is the chief operating officer of Sovos; the company's chief financial officer is Chris Hall.

Campbell Soup had planned to buy Sovos for $2.7 billion by December 2023 however this deal was extended to 2024 to address questions from the FTC.[4]

Lachman said Sovos has done well during the current inflationary period. Consumers have bought more consumer products as opposed to dining out.[5]

References

  1. ↑ Garcia, Tonya (September 30, 2021). "Sovos is Creating a Lineup of Small Brands Designed to Take on Big Food Companies". MarketWatch. Retrieved August 8, 2023.
  2. ↑ Garcia, Tonya (September 30, 2021). "Sovos is Creating a Lineup of Small Brands Designed to Take on Big Food Companies". MarketWatch. Retrieved August 8, 2023.
  3. ↑ Ravipati, Sri (August 8, 2023). "Campbell Soup Buys Rao's Parent Company for $2.7 Billion". Axios. Retrieved August 8, 2023.
  4. ↑ "Campbell's closing of $2.33 bln Sovos deal pushed to 2024". Reuters. October 23, 2023. Retrieved October 24, 2023.
  5. ↑ Doering, Christopher (August 16, 2021). "As Inflation Rages, Sovos Brands Thrives with a Premium Portfolio". Food Dive. Retrieved August 8, 2023.
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