CAMDEN, NJ. — A second letter from the Federal Trade Commission seeking additional information about the Campbell Soup Co.’s acquisition of Sovos Brands, Inc., Louisville, Colo., will delay the closing of the deal, according to Campbell Soup.
The company said that a second request for information “is a common feature of the regulatory review for transactions” under the Hart-Scott-Rodino Antitrust Improvement Act. As a result, Campbell Soup now expects to complete the transaction in mid-2024.
In August, Campbell Soup said it planned to acquire Sovos Brands for approximately $2.7 billion. Sovos Brands is a manufacturer of sauces, yogurts and frozen prepared foods marketed under such brands as Rao’s, noosa and Michael Angelo’s.Mark A. Clouse, president and chief executive officer of Campbell Soup, said shortly after the proposed acquisition was announced that Sovos would give his company a presence in the retail specialty sauces and frozen meal categories.