Campbell's acquires 49% stake in Rao's sauce producer La Regina for $286M

On December 8, 2025, Campbell Investment Company, a Delaware corporation (“ CIC ”) and subsidiary of The Campbell’s Company (“ Campbell’s ”), entered into a Sale and Purchase Agreement (the “ Sale and Purchase Agreement ”), with Antonio Romano, Felice Romano, Luigi Romano, Natalina Romano, Evolve S.r.l., a limited liability company ( società a responsabilità limitata ) incorporated under the laws of Italy, and F.A.L. Holdings LLC, a New York limited liability company (collectively, the “ Italian Sellers ”), pursuant to which, among other things, subject to the conditions set forth therein, CIC will acquire 49% (forty-nine percent) of the issued and outstanding shares of La Regina di San Marzano di Antonio Romano S.p.A.

Concurrently with the entry into the Sale and Purchase Agreement, Campbell Soup Supply Company LLC, a Delaware limited liability company and subsidiary of Campbell’s (“ CSSC ”), entered into an Equity Purchase Agreement (the “ Equity Purchase Agreement ”, together with the Sale and Purchase Agreement, the “ Purchase Agreements ”) with Felix Global Holdings, Corporation, a Delaware corporation (the “ US Seller ” together with the Italian Sellers, the “ Sellers ”), pursuant to which, among other things, subject to the conditions set forth therein, CSSC will acquire 49% (forty-nine percent) of the issued and outstanding membership interests of La Regina Atlantica, LLC, a Georgia limited liability company (“ La Regina Atlantica ” together with La Regina SPA, “ La Regina ”), from the US Seller