Sovos Brands expands portfolio with noosa yoghurt

Food and beverage company Sovos Brands has signed a merger agreement with Noosa Yoghurt to expand Sovos Brands into the yoghurt category.

Financial details of the agreement have not yet been revealed.

Sovos acquires brands in on-trend categories to accelerate growth by investing in distribution, marketing, production and product innovation.

Sovos Brands president and CEO Todd Lachman said: “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.

“Noosa 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.”

Noosa was Co-founded in 2009 by Koel Thomae and Rob Graves. Its products are made using whole milk, a touch of wildflower North American honey and real fruit purées on a family farm in Bellvue, Colorado.

Sovos noted that it will continue to manufacture Noosa products at the Bellvue facility.

In November 2014, Advent acquired a significant stake in Noosa and worked with Noosa’s founders and management team to accelerate its growth.

Advent International managing director Jeff Case said: “Noosa’s merger into Sovos is a clear and logical next step for both companies, as they share the same brand and customer-centric values and growth goals.

“Noosa has established itself as a market leader in the premium yoghurt category, and we are confident that it will be well positioned for continued success as part of Sovos Brands. We look forward to working with Sovos to identify new growth opportunities across all their brands.”

The deal is expected to be completed by the end of this year.