Campbell, Sovos certify substantial compliance with second FTC request

Campbell Soup Company (CPB) and Sovos Brands, Inc. (SOVO) announced that both companies have certified substantial compliance with the Request for Additional Information and Documentary Materials issued by the Federal Trade Commission 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, 2024, 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, 2024 expiration date. “We’re excited to be one step closer to completing the acquisition and welcoming the talented Sovos Brands employees to Campbell’s team,” said Campbell’s President and CEO Mark Clouse. “The Sovos Brands portfolio strengthens our Meals & Beverages division, and paired with our fast-growing Snacks division, will create one of the best portfolios in the industry and make Campbell one of the most dependable, growth-oriented names in food.”