Review of Campbell Soup Company Acquisition of Sovos Brands, Inc.

An Analysis Group team led by Managing Principals Emily Cotton and Rebecca Kirk Fair and Vice President Philipp Tillmann was retained on behalf of Campbell Soup Company in connection with its proposed $2.7 billion acquisition of Sovos Brands, owner of several premium grocery brands. An Analysis Group team evaluated the competitive effects of the merger on the US grocery industry and also supported Campbell Soup through a review by the US Federal Trade Commission (FTC). The parties obtained unconditional clearance for the merger from the FTC.