Sovos concludes acquisition of pancake and waffle mix brand Birch Benders

US food company Sovos Brands has concluded the acquisition of Birch Benders, which produces pancake, waffle mixes, toaster waffles and baking cups.

Financial details of the deal have not been disclosed.

Sovos Brands president and CEO Todd Lachman said: “As one of the fastest-growing pancake and waffle mix brands, along with its delicious high-quality products, Birch Benders fits perfectly with Sovos’ mission to acquire and build a portfolio of one-of-a-kind brands.

“With the addition of Birch Benders, Sovos will now play in seven large categories: sauces, yoghurt, frozen entrées, pancake and waffle mixes, frozen waffles, soups, and pasta.”

Based in Denver, Colorado, Birch Benders’ products are claimed to be organic, plant-based, non-GMO, protein, paleo, and keto alternatives.

With the completion of the deal, Sovos Brands intends to further enhance its presence in the breakfast and snacking categories.

Birch Benders will be the fourth brand in the Sovos portfolio, which includes Rao’s, a line of pasta sauces, soups, frozen entrées and dry pasta; Noosa yoghurt and Michael Angelo’s frozen entrées.

With the addition of Birch Benders, Sovos’ annual retail sales are expected to exceed $750m.

Sovos Brands executive vice-president, general manager Jason Vieth said: “Like all the brands in our portfolio, Birch Benders has reinvigorated its category with its highly distinctive offerings, which include popular paleo and keto alternatives.

“We are excited to unleash the next level of growth for the Birch Benders brand.”

For this deal, Piper Sandler served as financial adviser and Haynes and Boone acted as legal adviser to Birch Benders while Weil, Gotshal & Manges served as legal adviser to Sovos Brands.

In August, Sovos Brands agreed to purchase Birch Benders for an undisclosed sum.