Campbell’s is expanding its footprint in Italy as it accelerates its strategy in the premium ready-sauce segment. The U.S. multinational announced the acquisition of a 49% stake in La Regina di San Marzano di Antonio Romano Spa—an historic Scafati-based producer of premium tomatoes and sauces—and its affiliate La Regina Atlantica.
The transaction, valued at $286 million, may be paid with up to $140 million in unregistered Campbell’s shares.
Founded in 1972, La Regina has served as a key manufacturing partner for Rao’s since 1993. The company generates more than €400 million in revenue and will retain its Italian management team. The joint industrial plan aims to fuel the expansion of the Rao’s brand in North America, with the stated goal of surpassing $1 billion in annual sales through growth, innovation, and entry into new product categories. “This partnership marks a fundamental turning point,” said Felice Romano, CEO of La Regina.
For Mick Beekhuizen, CEO of Campbell’s, the deal “expands our innovation capabilities and strengthens the growth trajectory of Rao’s, built on the highest-quality ingredients.”
CAMPBELL’S Q1: REVENUE DOWN BUT ABOVE EXPECTATIONS
The announcement coincides with the release of Campbell’s fiscal first-quarter results for the period ended 2 November:
Net sales: $2.7 billion, –3% (–1% organic), beating analysts’ $2.66 billion forecast
Gross profit: $792 million, down from $867 million; margin 29.6% (from 31.3%)
Adjusted gross profit: $801 million, margin 29.9% (–150 bps), with the company citing inflationary pressures, supply-chain and tariff costs, partially offset by savings and productivity gains
EBIT: $336 million
Adjusted EBIT: $383 million (–11%)
EPS: $0.65; Adjusted EPS: $0.77 (–13%)
Operating cash flow: $224 million, in line with $225 million last year
Capital returned to shareholders: $144 million, of which $120 million via dividends
The company reaffirmed its 2026 guidance, expecting net sales between –1% and +1% and adjusted EPS between $2.40 and $2.55, below analysts’ average estimate of $2.63. The La Regina acquisition will not impact the guidance. “The quarter reflects improved operational efficiency in a dynamic environment,” Beekhuizen said, adding that the strengthened partnership with La Regina will enhance the group’s ability to “capture the opportunities of the Rao’s brand.”
L’articolo Campbell’s Buys 49% of Italy’s La Regina di San Marzano in $286mn Deal proviene da Italianfood.net.