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Campbell Soup Company’s acquisition of Sovos Brands delayed

Originally reported as aiming to close in Q4 of 2023, Campbell’s acquisition of Sovos Brands is now expected to close mid-2024 due to a request for additional information from the US Federal Trade Commission (FTC). In August, Campbell Soup announced the $2.7 billion deal for the acquisition of Sovos, which owns brands such as Michael Angelo’s Gourmet Foods, Rao’s Specialty Foods and Noosa Yoghurt. However, in a statement on 23 October, Campbell Soup said the FTC has requested “additional information” as part of the competition regulator’s review of the acquisition, its second such request. Campbell Soup stated: “A second request for information is a common feature of the regulatory review for transactions of this type under the Hart-Scott-Rodino Antitrust Improvement Act". “The company now expects to complete this transaction in the next calendar year and will continue to engage with the FTC on their review with the objective of closing the transaction in mid-2024.” You may also like to read: Campbell Soup to acquire Sovos Brands for $2.7bn Campbell Soup’s acquisition of Sovos Brands approved

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