{"schema_version":"secwatch.filing_event.v1","accession":"0000950103-24-003686","form_type":"8-K","ticker":"CPB","cik":"0000016732","company_name":"CAMPBELL'S Co","filed_at":"2024-03-12T23:59:59+00:00","discovered_at":"2026-05-14T18:03:25.059476+00:00","generated_at":"2026-06-04T23:05:10.716421+00:00","sec_items":["2.01","2.03","7.01","9.01"],"event_type":"m_and_a","sentiment":"positive","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"Campbell completes $2.7B acquisition of Sovos Brands; adds Rao's, creates Distinctive Brands unit","bullets":["Acquired Sovos Brands for $23.00/share in cash; total enterprise value approx. $2.7 billion.","Sovos reported $1.0B net sales in FY2023, organic growth +25% YoY; Rao's brand generated $775M revenue (+37%).","New Distinctive Brands unit formed within Meals & Beverages, led by Risa Cretella; combines Rao's, Michael Angelo's, noosa with Pacific Foods.","Expects ~$50M annual cost synergies over two years; transaction accretive to adjusted EPS by second year of ownership.","Borrowed $2B under delayed draw term loan on closing; had ~$925M outstanding CP as of March 11, 2024."],"urls":{"canonical":"https://secwatch.observer/filing/0000950103-24-003686","json":"https://secwatch.observer/filing/0000950103-24-003686.json","markdown":"https://secwatch.observer/filing/0000950103-24-003686.md","text":"https://secwatch.observer/filing/0000950103-24-003686.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/16732/000095010324003686/0000950103-24-003686-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/16732/000095010324003686/dp208176_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-04T23:05:10.716421+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"cb420a13830f17f2b10d4ca1ab3f98f1e62a6428","claim":"CAMPBELL'S Co incurred term loan of $2 billion with Bank of America, N.A., as administrative agent maturing October 8, 2024.","evidence_excerpt":"on the date hereof, the Company borrowed an aggregate principal amount of $2 billion under the Credit Agreement","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/16732/000095010324003686/0000950103-24-003686-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"term loan"},{"label":"Principal","value":"$2 billion"},{"label":"Counterparty","value":"Bank of America, N.A., as administrative agent"},{"label":"Maturity","value":"October 8, 2024"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"3e2539822bb554b439434947d36b22a69363d553","claim":"CAMPBELL'S Co completed an acquisition involving Sovos Brands, Inc. for $23.00 per share in cash (closed 2024-03-12).","evidence_excerpt":"prior to the Effective Time and (iii) any dissenting Sovos Common Stock) was canceled and automatically converted into the right to receive an amount in cash equal to $23.00 per share of Sovos Common Stock, without interest (the “ Merger Consideration ”). In addition, at the Effective Time: · Each restricted share of Sovos Common Stock that was","evidence_source":"SEC 8-K Item 2.01/5.01","evidence_url":"https://www.sec.gov/Archives/edgar/data/16732/000095010324003686/0000950103-24-003686-index.htm","confidence":0.9,"family_label":"M&A Transactions","details":[{"label":"Action","value":"acquisition"},{"label":"Counterparty","value":"Sovos Brands, Inc."},{"label":"Consideration","value":"$23.00 per share in cash"},{"label":"Closing","value":"2024-03-12"}],"fact_type":"ma_transaction"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}