Rao's Specialty Foods Acquired by Sovos Brands
Sovos Brands, which was formed by Advent International, has agreed to acquire Rao’s Specialty Foods for an undisclosed amount. The transaction is expected to be completed during the third quarter of 2017.
Established in 1992, Rao’s Specialty Foods has a history that dates back to the opening of Rao’s Italian restaurant in East Harlem, New York, in 1896. The super-premium pasta sauce producer uses no tomato blends, paste, water, starches, fillers, colors or added sugar. The company also offers dry pasta, dressings, marinades, olive oils, vinegars, tomatoes and fire-roasted peppers.
"We are thrilled to join the Sovos Brands family," said Eric Skae, CEO of Rao's Specialty Foods. "Since 1992 we have been the leading brand in the premium pasta sauce category by a wide margin, and as we enter our 25th year, we are committed to maintaining our top position in the space. With the resources and expertise of Sovos and Advent, we will be in an even stronger position to pursue the significant growth opportunities ahead of us. We look forward to expanding our product offering and introducing more consumers to the authentic taste of our pasta sauces and other specialty foods."
This marks the second acquisition made by Sovos this year. In January, the company purchased Michael Angelo's Gourmet Foods, which produces premium, authentic frozen Italian entrees.
MOST READ ARTICLES