Campbell Soup, Sovos certify substantial compliance with second FTC request

Campbell Soup (CPB) and Sovos Brands (SOVO) announced that both companies have certified substantial compliance with the Request for Additional Information and Documentary Materials issued by the Federal Trade Commission, or FTC, regarding Campbell’s proposed acquisition of Sovos Brands. The certification of substantial compliance triggers the start of a 30-day waiting period which is expected to expire on March 11 after which the sale can be finalized. Subject to the satisfaction or waiver of customary closing conditions, the companies expect to complete the transaction within days of the March 11 expiration date.