Sovos Brands, Inc. (SOVO)

Virtual Meetings

Monday August 15, 2022

Please indicate your INTEREST in participating in Virtual 1x1 and Small Group Meetings with:

Management:

  • Chris Hall, Chief Financial Officer
  • Joshua Levine, Vice President, Investor Relations

About:

  • Sovos Brands is a fast-growing packaged food company in early stages of multi-year organic growth, with potential upside from future acquisitions. We view Sovos as a Food 2.0 platform that is focused on 1) identifying and acquiring emerging brands; 2) growing brand sales by increasing awareness, expanding distribution, and developing new products; and 3) improving profitability via effective sourcing and shared service infrastructure.

  • Sovos Brands is seeing strong sales trends, partly helped by favorable macro environment trends, including at-home food consumption, but more importantly because of the distribution expansion of Rao’s pasta sauce (~15.1% market share in 1Q22), while other brands also are rapidly scaling, including Michael Angelo’s, noosa, and Birch Benders. Additionally, Sovos Brands continues to expand its total addressable market by entering new categories, such as Rao’s pasta and frozen pizza, noosa gelato, and Birch Bender cookies. Strong topline growth should be partially offset by pressure on profits in the near-term related to higher commodity and supply chain costs.

  • At the Sovos Brands meeting, we expect to get color on demand trends in the food industry, as well as an update on factors impacting profits, including higher commodity costs, supply chain expenses, and labor. We will also look to understand the consumer response to price increases.

Please call your TAG salesperson if you have an interest