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Top related persons:
Sovos - 3 Michael Angelo's - 3 Campbell - 2 Mark Clouse - 1 CNBC's Jim Cramer - 1 Rao's - 1 Clouse - 1 Monday's - 1
Top related locs:
Noosa New York City U.S North America Canada Bengaluru US Cupertino
Top related orgs:
Sovos - 1 Pepperidge - 1 REUTERS - 1 Sovos Brands - 1 Unilever - 1 Mars Inc - 1 Flagstone Foods - 1 CFRA - 1

Search resuls for: "Michael Angelo's"


3 mentions found


☆ Campbell Soup CEO talks merger with Rao's sauce maker: 'This is a juggernaut'
  + stars: | 2023-08-07 | by ( Julie Coleman | ) www.cnbc.com   time to read: +1 min
Campbell Soup CEO Mark Clouse told CNBC's Jim Cramer on Monday that his company's acquisition of Rao's sauce maker Sovos Brands is one of the best growth stories in the food business. Along with Rao's, Sovos also owns yogurt brand Noosa and frozen food brand Michael Angelo's. However, the premium Italian sauce brand is Sovos' money maker, representing 69% of its adjusted net sales in 2022, the company said. Clouse said the acquisition was an opportunity to drive Sovos' household penetration, or the portion of households reached by the products. He said the business is currently at 14% household penetration, while the benchmark for a premium brand is around 20%.
Persons: Campbell, Mark Clouse, CNBC's Jim Cramer, Rao's, Sovos, Michael Angelo's, Clouse, Monday's Organizations: Sovos, Pepperidge Locations: Noosa
☆ Campbell to buy Rao's premium sauces maker Sovos for $2.33 bln
  + stars: | 2023-08-07 | by ( ) www.reuters.com   time to read: +2 min
REUTERS/Brendan McDermid/File PhotoAug 7 (Reuters) - U.S. packaged food maker Campbell Soup (CPB.N) will buy Michael Angelo's and Rao's owner Sovos Brands (SOVO.O) for $2.33 billion in cash, the company said on Monday, beefing up its meals and beverages business with the maker of premium Italian sauces. Campbell will pay $23 per share for Sovos, a nearly 28% premium to the stock's last close. Sovos' shares were trading at $22.48 while Campbell slipped 1.2% to $44.58 in early trade. Last month, Unilever (ULVR.L) said it would buy frozen yogurt brand Yasso in North America while Mars Inc agreed to buy Kevin's Natural Foods. In May, Campbell Soup sold Emerald Nuts to Flagstone Foods for an undisclosed amount.
Persons: Brendan McDermid, Campbell, Michael Angelo's, beefing, Sovos, Campbell Soup, Arun Sundaram, Savyata Mishra, Savio D'Souza, Shweta Agarwal, Sriraj Organizations: REUTERS, Sovos Brands, Unilever, Mars Inc, Flagstone Foods, CFRA, Thomson Locations: New York City, U.S, North America, Canada, Bengaluru
☆ Here are Wednesday's biggest analyst calls: Apple, Nvidia, Chevron, Amazon, Avis, SeaWorld & more
  + stars: | 2023-05-31 | by ( Michael Bloom | ) www.cnbc.com   time to read: +6 min
Here are Wednesday's biggest calls on Wall Street: Needham initiates Sovos Brands as buy Citi said Sovos' Brands Rao's Tomato Sauce will be a $1 billion brand in the next three-to-four years. " Citi reiterates Anheuser-Busch InBev as buy Citi said investors should buy the dip in the beer giant. Deutsche Bank upgrades Avis to buy from hold Deutsche said the rental car company that it has upside potential. "In a tougher recession and sharp travel fall-off where revenue growth is cut in half, we estimate mid to high single digit EPS risk, implying an excellent risk/reward given valuation. Citi reiterates Nvidia as buy Citi said investors should "stay long" in shares of Nvidia.
Persons: Needham, Sovos, Michael Angelo's, Bernstein, Wedbush, it's, Goldman Sachs, Goldman, Bud, Baird, Mobileye, XYL, Wells, Key, AMBA, Mizuho, Piper Sandler, Piper Organizations: Brands, Citi, Amazon, Worldwide, Conference, SeaWorld, Anheuser, Busch InBev, Deutsche Bank, Avis, Deutsche, UBS, American Express, American, Palo Alto Networks, JPMorgan, Chevron, Service, Nvidia, TAM, Liberty, Microsoft Locations: US, Noosa, Cupertino, European, Wells Fargo, CrowdStrike, Zscaler, Palo, America, F2023E
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