Berkeley's Sovos Brands Acquires noosa Yogurt
The Colorado-based yogurt joins other brands in a growing portfolio.
Image courtesy of noosa
Sovos is on a mission to acquire premium, on-trend brands. Its expanding portfolio also includes Michael Angelo's Gourmet Foods (frozen Italian entrees) as well as Rao's Specialty Foods Inc. (pasta sauce and other Italian specialties).
Founded in 2009 by an Australian expat and a Colorado dairy farmer, sweet-tart Australian-style noosa — yep, the company's name starts with a lower-case n — is made in Colorado with whole milk, wildflower honey, and fruit purées.
"noosa fits perfectly into our portfolio of one-of-a-kind brands in the food and beverage sector, and we have been impressed by its compelling growth opportunities, attractive consumer demographics and talented employee base," said Sovos Brands president and CEO Todd Lachman.
"noose shares our unwavering commitment to authentic, delicious-tasting products using only the highest quality ingredients. Our team brings significant experience across food and beverage categories, and we see a number of attractive opportunities to grow the noosa brand as we expand Sovos Brands into the yoghurt category."
Sovos has the financial backing of Advent International, a private equity firm that over the past 28 years has invested nearly $11 billion in such companies as lululemon athletic, The Coffe Bean & Tea Lear, and Serta Simmons Bedding.