Sovos Brands Intermediate, Inc.

Based in Colorado, US, and founded in 2017, Sovos Brands, Inc. engages in the acquisition and building of brands in the food and beverage sector. The firm was founded by Todd R. Lachman with the backing of private equity firm Advent International in January 2017.

Since its inception, the company has made several acquisitions, acquiring Michael Angelo’s Gourmet Foods Inc. in February 2017, Rao’s Specialty Foods Inc in July 2017, and Birch Benders, LLC in October 2020. In September 2021, Sovos Brands, Inc. began trading on NASDAQ Global Market under the ticker symbol SOVO, and as of November 2021, the company is being led by its President and CEO, Todd R.

Lachman, and has approximately 615 employees. The firm offers various food products including Italian sauces, dry pasta, soups, yogurts, frozen entrées, pancake and waffle mixes, other baking mixes, and frozen waffles, through its brands, Rao’s Homemade, Noosa yogurt, Birch Benders, and Michael Angelo’s. The company primarily sell their products in the US and principally to retail outlets and wholesale distributors, including wholesalers, specialty food distributors, traditional supermarkets, military commissaries, mass merchants, warehouse clubs, and non-food outlets, such as dollar stores, e-commerce retailers, and drug store chains. For the year ended 2020, Sovos Brands, Inc.

generated USD 560. 07 million in revenue where a substantial amount of its revenue is derived from its Dinners and Sauces operating segment. The company plan to invest approximately USD 700,000 by 2022 to improve its research and development facility in Austin, Texas in order to support the previously acquired Birch Benders brand, any future acquired brands and expansion into new categories.