Campbell’s Closing of $2.33 Billion Sovos Deal is Delayed Until 2024

Campbell Soup said on Monday its $2.33 billion acquisition of Rao’s owner Sovos Brands was delayed until next year after the U.S. Federal Trade Commission (FTC) asked for more details on the deal.

Campbell said the request for additional information by the FTC was part of the agency’s review of the transaction and was a common feature of a regulatory review.

In August, Campbell agreed to buy the premium sauces maker to beef up its meals and beverages business and was expecting to close the transaction by the end of December.

Read the source article at Reuters