Related Searches: Tea Vitamin Nutrients Ingredients paper cup packing

Food & Health Ingredients
Health & Nutrition
Processing & Packaging
Starch & Starch Derivatives

Sovos Brands completes Rao's Specialty Foods acquisition

foodprocessing 2017-07-21
Share       

Advent International’s new food and beverage firm Sovos Brands has completed its previously announced acquisition of pasta sauce manufacturer Raos Specialty Foods.

Financial details of the deal have not been disclosed.

For Sovos Brands, this is the second acquisition in less than six months.

The transaction does not include Raos restaurants in New York, Las Vegas and Los Angeles.

"We look forward to working alongside the companys talented management team to accelerate its strong growth trajectory."

Raos Restaurant Group principal Frank Pellegrino Jr. said: "I am pleased to know that the Sovos team will honour and preserve our heritage as they lead the business into the future.

“I look forward to providing counsel to Sovos Brands to ensure that Raos Specialty Foods continues to grow and reach more customers with its high-quality super premium pasta sauce and complimentary speciality goods."

Headquartered in Berkeley, California, US, Sovos primarily focuses on businesses that have growth potential and invests in distribution, marketing, production and product innovation.

Raos Specialty Foods will now join Sovos’ portfolio that includes Michael Angelos Gourmet Foods, which is a leading producer of premium, authentic frozen Italian entrées.

Sovos Brands president and CEO Todd Lachman said: "We are thrilled to officially welcome Raos Specialty Foods to our family of high-quality, unique brands.

"Raos Specialty Foods has significant growth opportunities and we look forward to working alongside the companys talented management team to accelerate its strong growth trajectory."

Morgan Stanley & Co. served as an exclusive financial adviser and Morrison & Foerster LLP as legal adviser to Raos Specialty Foods on the transaction.

 

E-newsletter

Subscribe to our e-newsletter for the latest food ingredients news and trends.

Tags

Recommended Products

VM(Q)400E Vacuum Packager

VM(Q)400E Vacuum Packager

Seabuckthorn Concentrate Juice

Seabuckthorn Concentrate Juice

Selenium enriched tea extract

Selenium enriched tea extract

Woojamark W30+ TTO Printer

Woojamark W30+ TTO Printer

MOS(Malto Oligosaccharides)

MOS(Malto Oligosaccharides)

COATING STARCH

COATING STARCH

check weigher  60T

check weigher 60T

Fish Skin/ Bone Material Gelatin

Fish Skin/ Bone Material Gelatin

Top

SJGLE B2B Website : 中文版 | ChineseCustomer Service: 86-400 610 1188-3 ( Mon-Fri 9: 00-18: 00 BJT)

About Us|Contact Us|Privacy Policy|Intellectual Property Statement

Copyright 2006-2023 Shanghai Sinoexpo Informa Markets International Exhibition Co Ltd (All Rights Reserved). ICP 05034851-121