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Sovos Brands Priced, Nasdaq: SOVO

Sells premium food brands including Rao's and noosa.

Industry: Consumer Staples

Latest Trade: $13.52 0.00 (0.0%)

First Day Return: +12.7%

Return from IPO: +12.7%

Industry: Consumer Staples

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 built with authenticity at their core, providing consumers food experiences that are genuine, delicious and unforgettable, making each of our brands “one-of-a-kind.” Our products are premium and made with simple, high-quality ingredients. Our people are at the center of all that we do. We empower our teams to lead with courage and tenacity, providing them with the confidence and agility to connect with our consumers and retail partners to drive unparalleled growth. 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 and enables us to deliver on our objective of creating a growing and sustainable food enterprise yielding financial growth ahead of industry peers. In 2017, our Founder, President and Chief Executive Officer, Todd R. Lachman, together with our Chairman, William R. Johnson, identified an opportunity within the broader food landscape to acquire and build a portfolio of disruptive growth brands whose high-quality products support premium positioning. With the backing of the globally established private equity firm, Advent International Corporation (“Advent” or the “Sponsor”), Sovos Brands was formed and has become a leading and differentiated premium player within the packaged food industry.
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IPO News for Sovos Brands
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IPO Data
IPO File Date 08/27/2021
Offer Price $12.00
Price Range $14.00 - $16.00
Offer Shares (mm) 23.3
Deal Size ($mm) $280
Lock-Up Date IPO Pro Only
Street Research IPO Pro Only
IPO Data
IPO Date 09/22/2021
Offer Price $12.00
Price Range $14.00 - $16.00
Offer Shares (mm) 23.3
Deal Size ($mm) $280
Lock-Up Date IPO Pro Only
Street Research IPO Pro Only
Underwriters
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Company Data
Headquarters Louisville, CO
Founded 2017
Employees 615
Website www.sovosbrands.com