Private company
Sovos Brands, Inc.
Sovos Brands is a growth-oriented consumer-packaged food company with a portfolio of brands aimed at bringing today’s consumers great tasting food that fits the way they live.1
Last updated Oct 19, 2026.
Overview
- IndustryFood and Kindred Products1
- HeadquartersLouisville, Colorado1
- Incorporated inDE2
- Business address168 Centennial Parkway, Suite 200, Louisville, Co 800272
- Filer categoryLarge accelerated filer2
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Sovos Brands is a growth-oriented consumer-packaged food company with a portfolio of brands aimed at bringing today’s consumers great tasting food that fits the way they live.3 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2023
29.9%Gross margin4
7.9%Operating margin4
3.0%Net margin4
16.2%Revenue growth, 20234
5.7%Return on equity4
0.91×Debt to equity4
$93.5MFree cash flow4
Where the money goes
Where each dollar of revenue went, fiscal 2023
- Cost of revenue70¢$714.9M
- Research and development1¢$9.2M
- Selling, general and admin20¢$200.8M
- Other costs1¢$6.4M
- Interest4¢$42.6M
- Income tax2¢$16.3M
- Profit3¢$30.2M
Out of $1.0B in revenue.4
Where each dollar of operating cash went, fiscal 2023
- Capital spending11¢$11.9M
- Kept or used elsewhere89¢$93.5M
Out of $105.3M of cash from operations.4
Financial statements
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Revenue | $388.0M5 | $560.1M6 | $719.2M4 | $878.4M4 | $1.0B4 | |
| Cost of revenue | $275.4M5 | $373.3M6 | $498.4M4 | $631.7M4 | $714.9M4 | |
| Gross profit | $112.6M5 | $186.8M6 | $220.8M4 | $246.7M4 | $305.5M4 | |
| Research and development | $3.6M6 | $5.1M4 | $6.7M4 | $9.2M4 | ||
| Selling, general and admin | $94.5M5 | $124.6M6 | $135.1M4 | $163.0M4 | $200.8M4 | |
| Operating expenses | $184.3M4 | $285.2M4 | $224.9M4 | |||
| Operating income | -$22.8M5 | $37.4M6 | $36.5M4 | -$38.5M4 | $80.6M4 | |
| Interest | $23.0M5 | $19.9M5 | $31.0M4 | $28.9M4 | $42.6M4 | |
| Income before tax | $5.6M4 | -$66.3M4 | $46.5M4 | |||
| Income tax | -$18.6M5 | $6.7M6 | $3.7M4 | -$12.9M4 | $16.3M4 | |
| Net income | -$27.1M5 | $10.8M6 | $1.9M4 | -$53.5M4 | $30.2M4 | |
| Earnings per share | -$0.375 | $0.156 | $0.024 | -$0.534 | $0.304 | |
| Earnings per share (diluted) | -$0.375 | $0.146 | $0.024 | -$0.534 | $0.294 | |
| Shares (weighted, basic) | 80.6M shares4 | 100.9M shares4 | 101.3M shares4 | |||
| Shares (weighted, diluted) | 80.6M shares4 | 100.9M shares4 | 103.1M shares4 |
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Cash | $29.4M5 | $30.7M6 | $37.0M5 | $66.2M6 | $138.7M4 | $232.0M4 |
| Receivables | $70.7M6 | $87.7M4 | $97.7M4 | |||
| Inventory | $51.6M6 | $92.6M4 | $95.5M4 | |||
| Current assets | $149.5M5 | $195.2M6 | $330.9M4 | $433.0M4 | ||
| Property, plant and equipment | $62.7M6 | $64.3M4 | $64.7M4 | |||
| Goodwill | $437.5M4 | $395.4M4 | $395.4M4 | |||
| Intangible assets | $464.7M6 | $351.5M4 | $329.1M4 | |||
| Total assets | $1.1B5 | $1.2B6 | $1.2B4 | $1.2B4 | ||
| Accounts payable | $37.3M6 | $49.3M4 | $64.5M4 | |||
| Short-term debt | $99.0K4 | $184.0K4 | ||||
| Current liabilities | $100.1M5 | $92.3M6 | $122.2M4 | $149.3M4 | ||
| Long-term debt | $363.9M5 | $480.8M5 | $480.8M6 | $480.8M4 | ||
| Total liabilities | $548.1M5 | $668.4M6 | $682.8M4 | $705.0M4 | ||
| Retained earnings | -$49.8M6 | -$103.3M4 | -$73.1M4 | |||
| Shareholders’ equity | $603.6M5 | $584.0M6 | $596.7M4 | $509.5M4 | $476.0M4 | $530.0M4 |
| Shares outstanding | 74.1M shares5 | 100.9M shares6 | 101.0M shares4 | 101.5M shares4 |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Cash from operations | $11.6M5 | $62.9M6 | $46.9M4 | $45.4M4 | $105.3M4 | |
| Depreciation and amortization | $37.8M4 | $38.9M4 | $34.0M4 | |||
| Stock-based compensation | $9.8M4 | $18.4M4 | $24.5M4 | |||
| Capital spending | $12.7M5 | $3.7M6 | $14.2M4 | $12.8M4 | $11.9M4 | |
| Free cash flow | -$1.1M | $59.2M | $32.8M | $32.6M | $93.5M | |
| Cash from investing | -$14.2M4 | $27.2M4 | -$11.9M4 | |||
| Dividends paid | $400.0M4 | |||||
| Cash from financing | -$3.6M4 | -$78.0K4 | -$129.0K4 | |||
| Dividend per share | $5.404 |
Leadership
Who has led Sovos Brands, Inc., and when. Pick a name to see everywhere that person has worked.
Chief executive
Chief operating officer
2025
- Chief executive officerTodd R. Lachman Sep 23, 2021 to Mar 14, 202410
- PresidentYuri Hermida Mar 15, 2024 to Mar 15, 202411
- PresidentTodd R. Lachman Sep 23, 2021 to Sep 12, 202310
- Chief operating officerKirk A. Jensen Jan 18, 2022 to Mar 14, 202412
Board members and other officers (23)
- Chief Marketing OfficerPriscilla Tuan Jan 11, 2022 to Jan 19, 202313
- Chief Commercial OfficerRichard P. Greenberg Jan 11, 2022 to Jan 11, 202214
- Chief Growth OfficerYuri Hermida Nov 2, 2022 to Mar 14, 202415
- EVP & Group General ManagerJason D. Vieth Sep 23, 2021 to Sep 23, 202116
- Chief Human Resources OfficerKatie Gvazdinskas Sep 23, 2021 to Mar 14, 202417
- Chief Supply Chain OfficerKirk A. Jensen Sep 23, 2021 to Sep 23, 202118
- Chief Administrative OfficerLisa Y. O'Driscoll Sep 23, 2021 to Mar 14, 202419
- Executive Vice PresidentRisa Cretella Sep 23, 2021 to Mar 14, 202420
- Chief R&D OfficerWendy K. Behr Sep 23, 2021 to Feb 14, 202321
- Board memberGpe Viii Gp Limited Partnership Ap Mar 14, 2024 to Mar 14, 202422
- Board memberHoldco L.p. Noosa Mar 14, 2024 to Mar 14, 202422
- Board memberInternational L.p. Advent Mar 14, 2024 to Mar 14, 202422
- Board memberViii Gp Limited Partnership Gpe Mar 14, 2024 to Mar 14, 202423
- Board memberTamer Abuaita Jul 18, 2022 to Mar 14, 202424
- Board memberDaniel L. Poland Sep 23, 2021 to Sep 23, 202125
- Board memberJefferson M. Case Sep 23, 2021 to Mar 14, 202426
- Board memberNeha Mathur Sep 23, 2021 to Mar 14, 202427
- Board memberRichard P. Greenberg Sep 23, 2021 to Sep 23, 202128
- Board memberTodd R. Lachman Sep 23, 2021 to Mar 14, 202410
- Board memberValarie L. Sheppard Sep 23, 2021 to Mar 14, 202429
- Board memberVijayanthimala Singh Sep 23, 2021 to Mar 14, 202430
- Board memberWilliam R. Johnson Sep 23, 2021 to Mar 14, 202431
- General counselJones A. Isobel Sep 23, 2021 to Mar 14, 202432
Timeline
- Sep 23, 2021New chief executive Todd R. Lachman becomes CEO10
Filings
240 filings to the SEC since October 2021: 5 annual reports, 7 quarterly reports, 27 major events, 122 insider forms, 9 large holders, 70 other. The latest 20:
- Mar 22, 202415-12G EDGAR
- Mar 15, 20244/A EDGAR
- Mar 14, 20244 EDGAR
- Mar 14, 20244 EDGAR
- Mar 14, 20244 EDGAR
- Mar 14, 20244 EDGAR
- Mar 14, 20244 EDGAR
- Mar 14, 20244 EDGAR
- Mar 14, 20244 EDGAR
- Mar 14, 20244 EDGAR
- Mar 14, 20244 EDGAR
- Mar 14, 20244 EDGAR
- Mar 14, 20244 EDGAR
- Mar 14, 20244 EDGAR
- Mar 14, 20244/A EDGAR
- Mar 14, 20244 EDGAR
- Mar 14, 20244 EDGAR
- Mar 14, 20244 EDGAR
- Mar 14, 20244 EDGAR
- Mar 14, 20244 EDGAR
The 240 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
87 open-market trades by officers, directors and large owners since October 2021: 0 buys and 87 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Feb 12, 2024 | Hermida YuriPRESIDENT | Sale | 5,979 | $22.26 | $133.1K | Form 4 |
| Feb 12, 2024 | Jensen Kirk A.CHIEF OPERATING OFFICER | Sale | 2,785 | $22.26 | $62.0K | Form 4 |
| Feb 12, 2024 | Cretella RisaCHIEF SALES OFFICER | Sale | 3,363 | $22.26 | $74.9K | Form 4 |
| Feb 12, 2024 | LACHMAN TODD RCEO | Sale | 13,255 | $22.26 | $295.1K | Form 4 |
| Feb 12, 2024 | O'Driscoll Lisa Y.CHIEF ADMINISTRATIVE OFFICER | Sale | 1,397 | $22.26 | $31.1K | Form 4 |
| Feb 12, 2024 | Gvazdinskas KatieCHIEF HUMAN RESOURCES OFFICER | Sale | 1,624 | $22.26 | $36.1K | Form 4 |
| Jan 16, 2024 | O'Driscoll Lisa Y.CHIEF ADMINISTRATIVE OFFICER | Sale | 1,276 | $22.09 | $28.2K | Form 4 |
| Jan 16, 2024 | Jensen Kirk A.CHIEF OPERATING OFFICER | Sale | 12,802 | $22.09 | $282.8K | Form 4 |
| Jan 16, 2024 | Cretella RisaCHIEF SALES OFFICER | Sale | 7,627 | $22.09 | $168.5K | Form 4 |
| Jan 16, 2024 | Gvazdinskas KatieCHIEF HUMAN RESOURCES OFFICER | Sale | 1,607 | $22.09 | $35.5K | Form 4 |
| Jan 16, 2024 | Jones Isobel ACLO, GC AND SECRETARY | Sale | 7,522 | $22.09 | $166.2K | Form 4 |
| Jan 16, 2024 | Hall Christopher W.CHIEF FINANCIAL OFFICER | Sale | 3,843 | $22.09 | $84.9K | Form 4 |
| Jan 16, 2024 | LACHMAN TODD RCEO | Sale | 9,478 | $22.09 | $209.4K | Form 4 |
| Dec 6, 2023 | Hall Christopher W.CHIEF FINANCIAL OFFICER | Sale | 67,284 | $21.96 | $1.5M | Form 4 |
| Oct 26, 2023 | Hermida YuriPRESIDENT | Sale | 40,837 | $21.65 | $884.1K | Form 4 |
| Sep 11, 2023 | LACHMAN TODD RCEO | Sale | 6,250 | $22.53 | $140.8K | Form 4 |
| Aug 28, 2023 | LACHMAN TODD RCEO | Sale | 56,250 | $22.53 | $1.3M | Form 4 |
| Aug 14, 2023 | LACHMAN TODD RCEO | Sale | 56,250 | $22.55 | $1.3M | Form 4 |
| Aug 11, 2023 | LACHMAN TODD RCEO | Sale | 56,250 | $22.56 | $1.3M | Form 4 |
| Jul 17, 2023 | LACHMAN TODD RCEO | Sale | 56,250 | $18.50 | $1.0M | Form 4 |
All 87 trades can be filtered by person here when JavaScript is on.
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- ADVENT INTERNATIONAL, L.P.SC 13G/A, 3 filings Feb 14, 2022 to Feb 14, 202433
- VANGUARD GROUP INCSC 13G, 1 filing Feb 13, 202434
- Capital World InvestorsSC 13G/A, 2 filings Feb 13, 2023 to Feb 9, 202435
- Wellington Management CompanySC 13G/A, 3 filings Feb 4, 2022 to Feb 8, 202436
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8
- 9
- 10
- 11SEC EDGARYuri Hermida, President
- 12
- 13
- 14
- 15SEC EDGARYuri Hermida, Chief Growth Officer
- 16
- 17
- 18
- 19
- 20
- 21SEC EDGARWendy K. Behr, Chief R&D Officer
- 22
- 23
- 24SEC EDGARTamer Abuaita, Board member
- 25SEC EDGARDaniel L. Poland, Board member
- 26SEC EDGARJefferson M. Case, Board member
- 27SEC EDGARNeha Mathur, Board member
- 28SEC EDGARRichard P. Greenberg, Board member
- 29SEC EDGARValarie L. Sheppard, Board member
- 30SEC EDGARVijayanthimala Singh, Board member
- 31SEC EDGARWilliam R. Johnson, Board member
- 32SEC EDGARJones A. Isobel, General counsel
- 33
- 34
- 35
- 36