Houlihan Lokey Advises La Regina di San Marzano
Transaction Pending
La Regina di San Marzano has agreed to be acquired by The Campbell's Company
Sellside Advisor
Houlihan Lokey is pleased to have supported the recently announced transaction by The Campbell’s Company (Campbell’s) to enter into definitive agreements to acquire a 49% equity interest in La Regina di San Marzano di Antonio Romano S.p.A. and La Regina Atlantica, LLC (collectively, La Regina or the Group).
Founded in 1972 and headquartered in Scafati, Italy, La Regina is a leading international food group specialising in the production and distribution of high-quality tomato-based preserves and ready-made sauces, fully leveraging 100% premium Italian ingredients.
La Regina operates under a philosophy centred on producing the highest-quality Italian, homemade premium and super-premium tomato pasta sauces. Since 1993, La Regina has been a long-standing strategic partner of Rao’s, Campbell’s flagship premium pasta sauce brand.
La Regina operates three state-of-the-art production facilities across Italy and the United States (Alma, Georgia), featuring one of the world’s leading proprietary small-batch cooking processes.
Founded in 1869, Campbell’s (NASDAQ:CPB) is a North America-focused branded food powerhouse, generating net sales of $10.3 billion in FY 2025 through a portfolio of 16 leading brands, including Campbell’s, Cape Cod, Chunky, Goldfish, Kettle Brand, Lance, Late July, Pace, Pacific Foods, Pepperidge Farm, Prego, Rao’s, Snack Factory, Snyder’s of Hanover, Swanson, and V8.
This is structured as a step transaction, with the remaining 51% of La Regina’s outstanding equity interests subject to a call option granted to Campbell’s and a corresponding put option granted to La Regina.
The transaction strengthens the strategic partnership between Campbell’s and La Regina, ensuring Rao’s continued commitment to the highest-quality products while accelerating innovation and new product development.
Houlihan Lokey acted as the sole financial advisor to the shareholders of La Regina, providing support in structuring and negotiating the transaction. This transaction further reinforces Houlihan Lokey’s strong track record in the Italian food sector and demonstrates its leading capabilities in executing landmark cross-border transactions.
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