USA: Sovos Brands acquires Michael Angelo’s Gourmet Foods
Advent International, a large global private equity investor, has announced that Sovos Brands, a new food and beverage company, has completed the acquisition of Michael Angelo’s Gourmet Food, a frozen Italian food firm.
Michael Angelo’s Gourmet Foods, described as a family-owned and operated business with a passion for quality and talent for making authentic Italian prepared meals, is the first investment by Sovos Brands, which has the stated intention of looking to acquire unique brands in the consumer packaged goods industry.
Todd Lachman, President and CEO of Sovos Brands said: "Michael Angelo’s exemplifies the types of businesses we are looking to acquire in the food and beverage space. It is a unique, leading branded player offering delicious food that meets today’s lifestyle and consumer demand for real, clean ingredients".
Financial terms were not disclosed.
Source: Advent International