Sovos sees sales bump as regulators eye Campbell’s merger

LOUISVILLE — Food-umbrella company Sovos Brands Inc. (Nasdaq: SOVO) saw its year-over-year sales grow by nearly a quarter in the third quarter of 2023 as the company prepares to be absorbed by soup giant Campbell Soup Co. (NYSE: CPB).

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, expects a $2.7 billion acquisition by Campbell’s to close in mid-2024, but regulators are taking a close look at the deal. 

Sovos posted net sales of $257.9 million in the most recent period, up 23.5% over…