Sovos: Stockholders Vote to Approve Acquisition by Campbell

Louisville / CO. (sob) Sovos Brands Inc., one of the fastest-growing food companies of scale in the United States, announced that its stockholders, at a Special Meeting of Stockholders held earlier, approved the previously announced acquisition of the Company by Campbell Soup Company. 92.38 percent of the Company’s outstanding shares were voted, with 99.99 percent of the votes cast in favor of the proposal. Under the terms of the merger agreement, Campbell will acquire all the outstanding shares of Sovos Brands Inc. for USD 23.00 per share in cash. The Company will be filing the final voting results on a Form 8-K with the Securities and Exchange Commission.

The closing of the transaction remains subject to various closing conditions, including regulatory approval. The Company expects that the transaction will close during the fourth quarter of 2023, assuming that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 relating to the merger has expired or been terminated in this period.

Sovos Brands Inc. is a consumer-packaged food company focused on acquiring and building disruptive growth brands that bring today’s consumers great tasting food that fits the way they live. The Company’s product offerings include a variety of pasta sauces, dry pasta, soups, frozen entrées, frozen pizza and yogurts, all of which are sold in North America under the brand names Rao’s, Michael Angelo’s and noosa. All Sovos Brands’ products are built with authenticity at their core, providing consumers with one-of-a-kind food experiences that are genuine, delicious, and unforgettable. The Company is headquartered in Louisville, Colorado.