Latest Deals

Campbell Soup Co. has struck a deal to acquire fellow US food manufacturer Sovos Brands. The agreement values Sovos, the owner of brands including Michael Angelo’s frozen meals and Noosa yogurt, at $2.7bn. Sovos’ best-selling brand is Rao’s, under which the business sells sauces, soups, pasta and frozen meals. Campbell, home to Prego pasta sauces as well as Campbell’s soup, described Rao’s as a “premium, market-leading” brand. Rao’s accounted for 69% of Sovos Brands’ “adjusted” net sales in the company’s 2022 financial year, Campbell said.

Ferrero sister company Ferrara Candy Co. is to acquire Brazilian snacks group Dori Alimentos. Based in Marília in eastern Brazil, Dori Alimentos has three divisions: peanut snacks, sweet snacks and chocolate snacks. US confectioner Ferrara described Dori Alimentos as “a great fit … with a complementary portfolio of candies”. Founded in 1967, the Dori brand owner exports to more than 40 countries.

Mars has made another move into foods deemed ‘better for you’ by acquiring ready-meal and sauces company Kevin’s Natural Foods. US-based Kevin’s Natural Foods makes “chef-inspired” sous-vide meals, sides, and sauces. Mars suggested the products will complement its “food and nutrition” business that includes brands such as Seeds of Change and Foodspring.

Unilever has extended its portfolio of frozen desserts with the acquisition of US frozen Greek yogurt brand Yasso for an undisclosed fee. Matt Close, president of ice cream at Unilever, said Yasso has built a strong customer appeal in the “fast-growing, premium ‘better for you’ segment”. Founded in 2009, Yasso offers stick bars, frozen Greek yogurt sandwiches, bitesize Yasso Poppables and Yasso Mochi, all of which can be found at grocery and club stores in the US.