The Federal Trade Commission is seeking additional information about Camden-based Campbell Soup Co.’s $2.7 billion acquisition of Rao’s Homemade owner Sovos Brands, which will delay the closing of the deal, according to Campbell.
The company said this is a second request for information from the FTC and “is a common feature of the regulatory review for transactions” under the Hart-Scott-Rodino Antitrust Improvement Act.
As a result, Campbell Soup now expects to complete the transaction in mid-2024.
In August, Campbell agreed to buy the sauce maker to bolster its meals and beverages business and was expecting to close the transaction by the end of December.
Rao’s Homemade’s U.S. base is in Montclair.