Sovos shareholders say Campbell’s acquisition is mm-mm-good to go

LOUISVILLE —Sovos Brands Inc. (Nasdaq: SOVO) shareholders on Monday approved the food-umbrella company’s $2.7 billion acquisition by Campbell Soup Co. (NYSE: CPB).

The deal, struck in early August, still needs regulatory approval before closing, which is expected before the end of 2023. 

Louisville-based Sovos, which moved to Colorado from California several years ago and controls Rao’s pasta sauce, Noosa Yoghurt and Michael Angelo’s frozen entrées, was valued at a bit more than $1 billion when it launched its initial public offering in 2021. 

Campbell will pay $23 per share to take over the company.

Wall Street has smiled on the Campbell’s take…