Sovos Brands, backed by Advent International, has agreed to acquire pasta sauce producer Rao's Specialty Foods Inc. The deal does not include Rao's restaurant business. The transaction follows Advent's recent purchase of Michael Angelo's Gourmet Foods.
Rao's, founded in 1992, sells pasta sauces that are made without tomato blends, paste, water, starches, fillers, colors or added sugar. In addition, the target also sells dry pasta, dressings, marinades, olive oils, vinegars, tomatoes and fire-roasted red peppers.