Italy: Campbell’s to buy La Regina

Campbell’s has entered into definitive agreements to acquire a 49% interest in La Regina, the producer of Rao’s tomato-based pasta sauces. 

In its latest financial report released on 9 December, Campbell’s announced that it had entered into definitive agreements to acquire a 49% interest in La Regina di San Marzano di Antonio Romano S.p.A. and La Regina Atlantica, LLC (together, La Regina), the privately held maker of Rao’s tomato-based pasta sauces, for total consideration of USD 286 million to be paid in two tranches: 146 million at the closing of the transaction and 140 at one year after closing, payable also in Campbell’s shares provided that these do not exceed 19.9% of the share capital.

The remaining 51% of La Regina’s shares are subject to a call option granted to Campbell’s and a put option granted to La Regina. The closing of the acquisition is expected in the second half of fiscal year 2026.

Based in Scafati, in the South of Italy, La Regina was founded in 1972 by Antonio Romano, to mainly process San Marzano tomatoes. The first production plant of La Regina di San Marzano, processing peeled tomatoes, pulp and puree for the Italian and European market was opened in 1983. Following expansion of sales on the North American markets, in 2013, La Regina di San Marzano USA, Inc. was established, with the aim of getting closer to the consumers, and in 2020 La Regina consolidated its presence in the United States by opening a production plant in Georgia, to complement Italian production with a second line dedicated to the manufacture of sauces containing meat, which cannot be exported from Italy. This is how La Regina Atlantica, LLC. was born. In 2025 it recorded a turnover of about USD 390 million, up from the USD 366 in 2024.

La Regina has been a Rao’s partner since 1993  and now produces all the sauces sold under this brand in the USA. Campbell’s operation takes place one year after the acquisition of Sovos Brands, owner of Rao’s Homemade, for USD 2.33 billion. According to Campbell’s “the transaction strengthens the partnership between Campbell’s and La Regina, ensuring Rao’s continued commitment to the highest quality products while accelerating innovation and new product development.”

Sources: Campbell’s, La Regina