Acquisition closed
Campbell's acquires Rao's Homemade and Noosa (2024)
Campbell's completed the acquisition of Rao's Homemade and Noosa on 12 March 2024 for $2.7 billion, buying from Sovos Brands.[1]
Campbell's acquired Sovos Brands for $23 per share in cash, principally to obtain Rao's Homemade, a premium pasta sauce growing far faster than the rest of the category. The Federal Trade Commission cleared the deal after a second request.
Deal facts
- Announced
- Closed
- Value
- $2.7 billion (enterprise value)
- Buyer
- Campbell's
- Seller
- Sovos Brands
- Assets
- Rao's Homemade, Noosa
- Regulatory review
- None recorded
Ownership changes recorded from this deal
| Owner | Owned | Relationship | Stake | From | To |
|---|---|---|---|---|---|
| Campbell's | Rao's Homemade | owns | 100% | 2024-03-12 | present |
| Campbell's | Noosa | owns | 100% | 2024-03-12 | present |
| Campbell's | Michael Angelo's | owns | 100% | 2024-03-12 | present |
| Sovos Brands | Rao's Homemade | owns | 100% | 2017-01-01 | 2024-03-12 |
| Sovos Brands | Noosa | owns | 100% | 2018-01-01 | 2024-03-12 |
Who owns these brands today?
- Rao's Homemade — owned by Campbell's since 2024
- Noosa — owned by Campbell's since 2024
Sources (1) & corrections
Last verified . Every ownership fact above is backed by one of these primary documents. Numbers in brackets in the text refer to this list.
- [1] The Campbell's Company Annual Report on Form 10-K filed 2025-09-18 — SEC EDGAR, SEC Form 10-K, published 18 September 2025; retrieved 6 September 2026.
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