Campbell Soup to Divest Noosa Yogurt Brand

Campbell Soup Co. just acquired Sovos Brands Inc. in March 2024. Now, the snack and soup company has decided to divest one brand in the Sovos portfolio: Noosa yogurt.

When announcing the $2.7 billion acquisition in August of last year, Campbell President and CEO Mark Clouse said yogurt would not be “core to our strategy.” Other Sovos Brands include Michael Angelo's and Rao's pasta sauces, dry pastas, frozen pizza, frozen entrées, and soups.

Though the decision has been made for the Noosa business, Clouse did not reveal the details of a potential buyer for the brand, nor a disposal date or financial terms of a potential deal.

“The Noosa business has been one of the more positive surprises in the Sovos Brands acquisition. It is an excellent product and brand that continues to perform very well,” Clouse told analysts. “Even though we have decided to explore strategic alternatives for the business as yogurt's not a strategic category for Campbell's, the business has truly exceeded our expectations.”

In May, Campbell Soup announced it was closing one plant and downsizing another, leading to 415 job cuts. As well, last week the company stated it beat quarterly estimates for Q3and raised its forecast for annual net sales growth, banking on a recovery in demand for its soups and frozen meals and a boost from its purchase of Sovos Brands.

At this time, there is no word on which companies might be considering the popular Greek-style Australian yogurt brand.