Campbell’s is known worldwide for their easy to prepare soups. Their products vary from canned spaghetti to pork n beans. In 2023, they’re buying Savos Brands to add to their variety.
Why is Campbell’s buying Savos Brands?
The company being purchased has more then one brand they own. Campbell’s will be acquiring Michael Angelo’s frozen foods, Noosa yogurts, and Rao’s sauces. The latter is primarily why they’re making this purchase.
Savos Brands’ net sales worth grew 28% from 2019 to 2022. Rao’s sauce is reported to be 70% of the reason why. The brand shows promise for boosting the buying company’s own net sales worth.
Paired with our faster-growing and differentiated snacks division makes Campbell’s one the most dependable, growth-orientated names in food.Mark Clouse, CEO and President
Todd Lachman is the founder of Savos Brands. He says that the transition also creates substantial value for shareholders. However, some are concerned about the acquisition.
Rao’s customer response
While shareholders may be excited, Rao’s customer base is not. Many took to social media to share their displeasure.
Rao’s sauce has no water, no added sugar, no tomato paste, and no colors. Rao’s promise to uphold the recipe is what attracts customers to the brand. With Campbell’s purchase, it has fans concerned the company will be making changes.
Customers need not fear according to Mark Clouse. Campbell’s has no intention of touching current recipes.
We are 100% committed to honoring the artisanal integrity of the amazing food you make. And we are equally committed to fuel and accelerate your momentum by working with and learning from you.Clouse’s letter to Savos Brands employees
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