Rao’s Homemade Owner Sovos Brands Said to Explore Sale, IPO

Private equity firm Advent International is exploring strategic options for Sovos Brands, a food and beverage company with Rao’s Homemade and Noosa yogurt among its brands, according to people with knowledge of the matter.

Advent is working with an adviser as it weighs alternatives including a sale or initial public offering of Sovos, said the people, who asked not to be identified.

Berkeley, California-based Sovos, led by founder and Chief Executive Officer Todd Lachman, posted 2020 revenue of about $800 million, and is on track for 30% annual growth, said a person with knowledge of the matter. Sovos’s targeted ...