Deal Wrap: Advent exits Sovos Brands; Linden closes Alcresta acquisition

Deal Wrap is updated as of 3 p.m. ET.

– Campbell Soup Co. finalized the acquisition of packaged foods company Sovos Brands Inc. from an investor group including Advent International LP. The $23-per-share all-cash deal valued the enterprise at $2.7 billion.

– Linden Capital Partners completed its purchase of Alcresta Therapeutics Inc., an enzyme-based treatment product company, from Athyrium Capital Management LP, Bessemer Venture Partners, Frazier Healthcare Partners and HealthQuest Capital. HealthQuest reinvested and will remain a minority shareholder and board member of Alcresta.

– HCAP Partners LLC acquired three behavioral health companies — Behavioral Medicine Associates, Workers Compensation Psychological Network and Reservoir Health — which combined to form PAX Health LLC. Funds managed by Hamilton Lane Inc. was a coinvestor alongside HCAP in the transaction.

– Domino's Pizza Group PLC agreed to buy the remaining 85% stake it does not already own in Shorecal Ltd., its franchise business with operations in Ireland and Northern Ireland for total consideration of €72 million, plus assumed debt. The sellers are Charles, Adrian and Anne Caldwell, as well as an investment vehicle controlled by Radcliff Management LLC in partnership with the Bronfman Family Office.

– Mahana Therapeutics Inc. bought HiDoc Technologies GmbH, a Berlin-based digital digestive healthcare specialist operating as Cara Care, for undisclosed financial terms. Johnson & Johnson Innovation - JJDC Inc., Atlantic Labs Manager GmbH and Asabys Partners were the sellers.

– The Riverside Co. invested in U.S. Cabinet Depot, a wholesale distributor of ready-to-assemble kitchen and bath cabinetry products. MERK Capital and StoneCreek Capital Inc. coinvested alongside Riverside in the deal.

For more private equity deals, read our latest In Play report, which looks at potential private equity-backed M&A, including rumored transactions, each week.