Sovos Brands, Inc.

General Information
Business:
Sovos Brands is the fastest-growing food company of scale in the United States, focused on acquiring and building disruptive growth brands that bring today’s consumers great tasting food that fits the way they live. Our brands, Rao’s, noosa, Birch Benders and Michael Angelo’s, are premium and made with simple high-quality ingredients. Our people are at the center of all that we do. We believe our focus on “one-of-a-kind” brands, products that people love, and passion for our people makes Sovos Brands a “one-of-a-kind” company.
Sovos Brands was formed in 2017, with the backing of Advent International Corp., a global private equity firm.
(Note: Sovos Brands priced its IPO on Sept. 22, 2021, at $12 – $2 below the bottom of its $14-to-$16 price range – on 23.33 million shares, the same number of shares in the prospectus, to raise $279.96 million. Under the filed terms, the company had aimed to raise $350 million.)
Industry: FOOD & KINDRED PRODUCTS
Employees: 615
Founded: 2017
Contact Information
Address 168 Centennial Parkway, Suite 200 Louisville, CO 80027
Phone Number (720) 316-1225
Web Address http://www.sovosbrands.com/
View Prospectus: Sovos Brands, Inc.
Financial Information
Market Cap $1460.9mil
Revenues $649.87 mil (last 12 months)
Net Income $12.13 mil (last 12 months)
IPO Profile
Symbol SOVO
Exchange NASDAQ
Shares (millions): 23.3
Price range $12.00 - $12.00
Est. $ Volume $280.0 mil
Manager / Joint Managers J.P. Morgan/ Goldman Sachs/ BofA Securities/ Credit Suisse
CO-Managers Barclays/ UBS Investment Bank/ Cowen/ Piper SandlerStifel/ William BlairTelsey Advisory Group/ Drexel Hamilton/ Loop Capital Markets ​
Expected To Trade: 9/23/2021
Status: Priced
Quiet Period Expiration Date:
Lock-Up Period Expiration Date:
SCOOP Rating
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