Sovos Brands (SOVO) 10-K 8 Mar 23 2022 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Mar. 03, 2023	Jun. 25, 2022
Document and Entity Information [Abstract]
Document Type	10-K
Document Annual Report	true
Document Transition Report	false
Document Period End Date	Dec. 31, 2022
Entity File Number	001-40837
Entity Registrant Name	Sovos Brands, Inc
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	81-5119352
Entity Address State Or Province	CO
Entity Address, Address Line One	168 Centennial Parkway
Entity Address, Address Line Two	Suite 200
Entity Address, City or Town	Louisville
Entity Address, Postal Zip Code	80027
City Area Code	720
Local Phone Number	316-1225
Title of 12(b) Security	Common Stock, $0.001 par value per share
Trading Symbol	SOVO
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Public Float			$ 441.5
Entity Common Stock, Shares Outstanding		100,214,297
Auditor Name	Deloitte & Touche LLP
Auditor Firm ID	34
Auditor Location	Denver, Colorado
Entity Central Index Key	0001856608
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Amendment Flag	false
ICFR Auditor Attestation Flag	false

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 25, 2021
CURRENT ASSETS:
Cash and cash equivalents	$ 138,654	$ 66,154
Accounts receivable, net	87,695	70,729
Inventories, net	92,602	51,615
Prepaid expenses and other current assets	11,974	6,685
Total current assets	330,925	195,183
Property and equipment, net	64,317	62,671
Operating lease right-of-use assets	13,332	15,672
Goodwill	395,399	437,451
Intangible assets, net	351,547	464,655
Other long-term assets	3,279	2,299
TOTAL ASSETS	1,158,799	1,177,931
CURRENT LIABILITIES:
Accounts payable	49,264	37,254
Accrued expenses	69,571	51,757
Current portion of long-term finance lease liabilities	99	98
Current portion of long-term lease liabilities	3,308	3,216
Total current liabilities	122,242	92,325
Long-term debt, net of debt issuance costs	482,344	481,420
Deferred income taxes	63,644	76,976
Long-term operating lease liabilities	14,063	17,302
Other long-term liabilities	483	421
TOTAL LIABILITIES	682,776	668,444
COMMITMENTS AND CONTINGENCIES (Note 12)
STOCKHOLDERS' EQUITY:
Preferred stock, $0.001 par value per share, 10,000,000 shares authorized, no shares issued and outstanding
Common stock, $0.001 par value per share, 500,000,000 shares authorized, 100,967,910 and 100,892,547 shares issued and outstanding as of December 31, 2022 and December 25, 2021, respectively	101	101
Additional paid-in-capital	577,664	559,226
Accumulated deficit	(103,291)	(49,840)
Accumulated other comprehensive income	1,549
TOTAL STOCKHOLDERS' EQUITY	476,023	509,487
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 1,158,799	$ 1,177,931

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2022	Dec. 25, 2021
Consolidated Balance Sheets
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, authorized (in shares)	10,000,000	10,000,000
Preferred stock, issued (in shares)	0	0
Preferred stock, outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, authorized (in shares)	500,000,000	500,000,000
Common stock, issued (in shares)	100,967,910	100,892,547
Common stock, outstanding (in shares)	100,967,910	100,892,547

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 25, 2021	Dec. 26, 2020
Consolidated Statements of Operations
Net sales	$ 878,371	$ 719,186	$ 560,067
Revenue, Product and Service [Extensible Enumeration]	us-gaap:ProductMember	us-gaap:ProductMember	us-gaap:ProductMember
Cost of sales	$ 631,706	$ 498,394	$ 373,314
Cost, Product and Service [Extensible Enumeration]	us-gaap:ProductMember	us-gaap:ProductMember	us-gaap:ProductMember
Gross profit	$ 246,665	$ 220,792	$ 186,753
Operating expenses:
Selling, general and administrative	163,025	135,060	124,612
Depreciation and amortization	28,785	28,871	24,744
Loss on asset sale	51,291
Impairment of goodwill	42,052	0	0
Loss on extinguishment of debt		15,382
Forgiveness of capital advance		5,000
Total operating expenses	285,153	184,313	149,356
Operating income (loss)	(38,488)	36,479	37,397
Interest expense, net	27,851	30,885	19,895
Income (loss) before income taxes	(66,339)	5,594	17,502
Income tax (expense) benefit	(12,888)	3,675	6,677
Net income (loss)	$ (53,451)	$ 1,919	$ 10,825
Earnings (loss) per share:
Basic (in dollars per shares)	$ (0.53)	$ 0.02	$ 0.15
Diluted (in dollars per shares)	$ (0.53)	$ 0.02	$ 0.14
Weighted average shares outstanding:
Basic (in shares)	100,917,978	80,616,326	74,058,569
Diluted (in shares)	100,917,978	80,616,326	75,921,065

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 25, 2021	Dec. 26, 2020
Consolidated Statements of Comprehensive Income (Loss)
Net income (loss)	$ (53,451)	$ 1,919	$ 10,825
Other comprehensive income:
Change in net unrealized gain on derivative instruments	2,038
Income tax effect	(489)
Unrealized gain on derivative instruments, net of tax	1,549
Total comprehensive income (loss)	$ (51,902)	$ 1,919	$ 10,825

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands	Common Stock	Stockholder's Note Receivable	Additional Paid-in Capital	Retained Earnings (Accumulated Deficit)	Accumulated Other Comprehensive Income	Total
Balances, at beginning of period at Dec. 28, 2019	$ 74	$ (6,000)	$ 652,507	$ (62,584)		$ 583,997
Balances, at beginning (in shares) at Dec. 28, 2019	74,058,747
Increase (Decrease) in Stockholders' Equity
Equity-based compensation expense			1,914			1,914
Cash contributions to Limited Partnership			(35)			(35)
Cash contributions to Limited Partnership (in shares)	(300)
Net income (loss)				10,825		10,825
Balances, at ending of period at Dec. 26, 2020	$ 74	(6,000)	654,386	(51,759)		596,701
Balances, at ending (in shares) at Dec. 26, 2020	74,058,447
Increase (Decrease) in Stockholders' Equity
Proceeds from stockholder's note receivable		$ 6,000				6,000
Dividend distribution ($5.40 per share)			(400,000)			(400,000)
Proceeds from issuance of public stock	$ 27		321,982			322,009
Proceeds from issuance of public stock (in shares)	26,834,100
Underwriter discount on issuance of public stock			(19,320)			(19,320)
Capitalized IPO costs netted with IPO proceeds			(7,645)			(7,645)
Equity-based compensation expense			9,823			9,823
Net income (loss)				1,919		1,919
Balances, at ending of period at Dec. 25, 2021	$ 101		559,226	(49,840)		509,487
Balances, at ending (in shares) at Dec. 25, 2021	100,892,547
Increase (Decrease) in Stockholders' Equity
Equity-based compensation expense			18,438			18,438
Shares issued upon vesting of restricted stock units (in shares)	75,363
Other comprehensive income					$ 1,549	1,549
Net income (loss)				(53,451)		(53,451)
Balances, at ending of period at Dec. 31, 2022	$ 101		$ 577,664	$ (103,291)	$ 1,549	$ 476,023
Balances, at ending (in shares) at Dec. 31, 2022	100,967,910

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Stockholders' Equity (Parenthetical)	12 Months Ended
	Dec. 25, 2021 $ / shares
Consolidated Statements of Changes in Stockholders' Equity
Dividend distributions (in dollar per share)	$ 5.40

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended			24 Months Ended
	Dec. 31, 2022	Dec. 25, 2021	Dec. 26, 2020	Dec. 25, 2021
Operating activities
Net income (loss)	$ (53,451)	$ 1,919	$ 10,825
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	38,868	37,812	33,797
Equity-based compensation expense	18,438	9,823	1,914
Loss on foreign currency contracts	33
Non-cash interest expense	59
Deferred income taxes	(13,821)	2,243	4,749
Amortization of debt issuance costs	1,331	1,883	1,775
Non-cash operating lease expense	2,418	2,278
Provision for excess and obsolete inventory	2,482	822	442
Loss on disposal of property and equipment		307	757
Impairment of goodwill	42,052	0	0	$ 0
Loss on extinguishment of debt		15,382
Loss on asset sale	51,291
Forgiveness of capital advance		5,000
Other		(125)	(241)
Changes in operating assets and liabilities:
Accounts receivable, net	(17,032)	(9,387)	(11,297)
Inventories, net	(48,891)	(5,449)	(6,912)
Prepaid expenses and other current assets	603	(9,567)	(796)
Other long-term assets	388	(35)	(106)
Accounts payable	11,552	6,242	5,478
Accrued expenses	12,238	(8,395)	20,647
Other long-term liabilities	62	(979)	1,882
Operating lease liabilities	(3,225)	(2,831)
Net cash provided by operating activities	45,395	46,943	62,914
Investing activities
Acquisition of businesses, net of cash acquired			(146,406)
Proceeds from sale of business	40,000
Purchases of property and equipment	(12,817)	(14,182)	(3,733)
Net cash provided by (used in) investing activities	27,183	(14,182)	(150,139)
Financing activities
Contributions to Limited Partnership			(35)
Payments of debt issuance costs		(3,046)	(2,263)
Proceeds from long-term debt		769,136	99,015
Repayments of long-term debt		(673,346)	(3,054)
Repayments of capital lease obligations	(78)	(66)	(93)
Proceeds from revolving facility			42,500
Repayments of revolving facility			(42,500)
Net proceeds from issuance of common stock		302,689
Proceeds from stockholder's note receivable		6,000
Contingent earn out consideration paid		(5,000)
Dividends paid		(400,000)
Net cash (used in) provided by financing activities	(78)	(3,633)	93,570
Cash and cash equivalents
Net increase in cash and cash equivalents	72,500	29,128	6,345
Cash and cash equivalents at beginning of period	66,154	37,026	30,681	30,681
Cash and cash equivalents at end of period	138,654	66,154	37,026	$ 66,154
Supplemental disclosures of cash flow information
Cash paid for interest	24,706	28,535	15,493
Cash paid for taxes	5,778	2,522	1,203
Proceeds from income tax refunds	(15)	(44)	(1,798)
Non-cash investing and financing transactions
Lease liabilities arising from operating lease right-of-use assets recognized at ASU No. 2016-02 transition		21,711
Lease liabilities arising from operating lease right-of-use assets recognized after ASU No. 2016-02 transition	78	1,638
Capitalized IPO costs netted with IPO proceeds		7,645
Acquisition of property and equipment not yet paid	$ 498	$ 39	153
Contingent earn out consideration related to Birch Benders acquisition			5,000
Acquisition of property and equipment through tenant improvement allowance			822
Acquisition of property and equipment through capital leases			$ 224

Company Overview

Company Overview	12 Months Ended
	Dec. 31, 2022
Company Overview
Company Overview	Note Description of Business Sovos Brands, Inc. and its wholly-owned subsidiaries (the “Company,” “Sovos Brands,” “we,” “us,” “our”) 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. The Company’s four wholly-owned operating subsidiaries include: Rao’s Specialty Foods, Inc. (“Rao’s”); Bottom Line Food Processors, Inc. doing business as Michael Angelo’s Gourmet Foods, Inc. (“Michael Angelo’s”); Noosa Yoghurt, LLC (“Noosa”); and Birch Benders, LLC (“Birch Benders”). The Company’s principal products include a variety of pasta sauces, dry pasta, soups, frozen entrées Rao’s Michael Angelo’s noosa Birch Benders Through the end of fiscal 2022, the Company sold products marketed under the brand name of Birch Benders. Loss on Asset Sale Birch Benders Basis of Presentation The consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”) and include the accounts of the Company and its subsidiaries. All intercompany balances and transactions have been eliminated. The consolidated financial statements are presented in U.S. dollars. The Company maintains its accounting records on a 52/53-week fiscal year, ending on the last Saturday in December of each year.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2022
Summary of Significant Accounting Policies
Summary of Significant Accounting Policies	Note Reclassification Equity-Based Compensation Use of Estimates as it relates to variable consideration, acquisition accounting fair value allocations, the recoverability of goodwill, other intangible assets, property and equipment, deferred tax assets, inventory valuation, equity-based compensation, and the determination of the useful life of customer relationship and finite-lived trademark intangible assets. Management bases its estimates on historical experience, current conditions and various other assumptions that it believes to be reasonable under the circumstances. These estimates form the basis for making judgments about the carrying values of assets and liabilities and are not readily apparent from other sources. Actual results may differ from these estimates. Cash and Cash Equivalents Accounts Receivable, Net and Credit Losses The allowance for doubtful accounts was approximately $0.8 million and $0.7 million as of December 31, 2022 and December 25, 2021, respectively. Charges related to credit loss on accounts receivables were approximately $6.0 thousand, $0.2 million and $0.2 million for the fiscal years ended December 31, 2022, December 25, 2021 and December 26, 2020, respectively. In addition, in December 2021, the Company entered into an agreement with one of its suppliers, in which the remaining $5.0 million of the original $10.0 million 2016 capital advance balance, scheduled to be repaid by December 31, 2023, was forgiven and treated as if it were repaid in full. Upon execution of the December 2021 agreement, the Company recorded a credit loss of $5.0 million within operating expenses in the Consolidated Statements of Operations and the balance previously reported within other long-term assets in the Consolidated Balance Sheets was eliminated. Deferred Offering Costs— Upon the closing of its initial public offering (“IPO”) in September 2021, the Company had incurred $7.6 million of capitalized deferred offering costs consisting of legal, accounting, consulting, listing and filing fees, which were netted against the IPO proceeds. There were no capitalized deferred offering costs as of December 31, 2022 and December 25, 2021. Inventories Property and Equipment ​ ​ ​ Furniture and Fixtures 1-7 years Leasehold Improvements Lesser of useful life or remaining lease term Machinery and Equipment 7-12 years Computer Equipment 3-5 years Software 3 years Capital Leases Based on lease terms ​ Repairs and maintenance costs are expensed as incurred. Major improvements that extend the life or increase the capacity of property owned are capitalized. Major improvements to leased buildings are capitalized as leasehold improvements. Impairment of Long-Lived Assets Goodwill Birch Benders Goodwill Intangible Assets ​ Customer Relationships 10-20 years Tradename 20-25 years ​ Intangible assets with definite useful lives are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amounts may not be recoverable. If impairment indicators are present, the Company performs a recoverability test, and if it is determined the carrying amount of the asset is not recoverable and its carrying amount exceeds its fair value, then an impairment loss is recognized. There were no impairments of definite lived intangible assets in 2022, 2021 or 2020. See Note 8. Intangible Assets, Net The Rao’s Indefinite-lived intangible assets are tested for impairment by either performing a qualitative evaluation or a quantitative test. The qualitative assessment evaluates factors including macro-economic conditions, industry and company-specific factors, and historical company performance in assessing fair value. If it is determined that it is more likely than not that the fair value of the asset is less than the carrying value, a quantitative test is performed. Otherwise, no further testing is required. If it is determined that it is more likely than not that the fair value of the asset is less than the carrying value, impairment is evaluated by comparing the fair value of the asset with its carrying value, and a loss is recognized for the difference if the fair value exceeds the carrying value. When estimating the fair value, the Company uses certain assumptions, such as forecasted growth rates and cost of capital. These assumptions are consistent with our internal projections and operating plans. Unanticipated market or macroeconomic events and circumstances may occur, which could affect the accuracy or validity of the estimates and assumptions. For example, future changes in the judgments, assumptions and estimates that are used in our tradename impairment testing could result in significantly different estimates of the fair values. In addition, changes to, or a failure to achieve business plans or deterioration of macroeconomic conditions could result in reduced cash flows or higher discount rates, leading to a lower valuation that would trigger an impairment of the tradename. There were no impairments of indefinite lived intangible assets in 2022, 2021 or 2020. See Note 8. Intangible Assets, Net Leasing Arrangements Leases The Company uses the implicit rate in the lease, if available, for calculating the present value of the lease payments. If the implicit rate is not readily determinable, the Company will use the applicable incremental borrowing rate in calculating the present value of the sum of the lease payments. The incremental borrowing rate represents an estimate of the interest rate the Company would incur at lease commencement to borrow an amount equal to the lease payments on a collateralized basis over the term of a lease. The Company evaluates renewal options at lease inception and on an ongoing basis and includes renewal options that it is reasonably certain to exercise in its expected lease terms when classifying leases and measuring lease liabilities. Some leases also include early termination options, which can be exercised under specific conditions. Additionally, certain leases contain incentives, such as construction allowances from landlords. These incentives reduce the right-of-use asset related to the lease. The Company recognizes expense for operating leases on a straight-line basis over the lease term. The Company recognizes interest expense and depreciation expense for finance leases. Depreciation expense for assets held under finance leases are computed using the straight-line method over the lease term or useful life for leases that contain a transfer of title or reasonably certain purchase option. The Company elected to combine lease and non-lease components for all asset classes. The Company’s lease agreements may contain variable lease payments for increases in rental payment as a result of indexation and variable storage and shipping utilization, common area maintenance, property tax, and utility charges, which are excluded from the measurement of its right-of-use assets and lease liabilities and are recognized as variable payments in the period in which the obligation for those payments is incurred. The Company’s real estate leases include base rent escalation clauses. The majority of these are based on the change in a local consumer price or similar inflation index. Payments that may vary based on an index or rate are included in the measurement of our right-of-use assets and lease liabilities at the rate as of the commencement date with any subsequent changes to those payments being recognized as variable payments in the period in which they occur. The Company does not have significant residual value guarantees or restrictive covenants in the lease portfolio. See Note 11. Leases Debt Issuance Costs During 2021, the Company wrote off debt issuance costs of approximately $15.4 million in conjunction with the repayment of the outstanding 2018 Term Loan, Incremental Term Loan, and Initial Second Lien Facility, and partial prepayment of the Initial First Lien Term Loan Facility. During 2022 and 2020, there were no debt issuance costs written off. See Note 10. Long-Term Debt Comprehensive Income Hedging and Derivative Financial Instruments — ​ The Financial Accounting Standards Board (“FASB”) issued Accounting Standards Codification (“ASC”) 815, Derivatives and Hedging ​ Derivative instruments are recorded at fair value in the Consolidated Balance Sheets and are classified based on the contractual maturity of the instrument or the timing of the underlying cash flows. The fair value of derivative instruments is reflected in prepaid expenses and other current assets, other long-term assets or accrued expenses. On the Consolidated Statements of Cash Flows, cash flows associated with derivative instruments are classified according to the nature of the underlying hedged item. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative, whether the Company has elected to designate a derivative in a hedging relationship, whether the Company has elected to apply hedge accounting and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. Derivatives designated and qualifying as a hedge that are exposed to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges. Hedge accounting generally provides for the matching of the timing of gain or loss recognition on the hedging instrument with the recognition of the changes in the earnings effect of the hedged forecasted transactions in a cash flow hedge. Changes in fair value of the cash flow hedges are recognized in the Consolidated Statements of Comprehensive Income in OCI. The Company may enter into derivative contracts that are intended to economically hedge certain of its risks, even though hedge accounting does not apply or the Company elects not to apply hedge accounting. Derivative instruments that have not been designated in an effective hedging relationship are considered economic hedges, and their change in fair value is recognized in the Consolidated Statements of Operations in selling, general and administrative expense. In accordance with the FASB’s fair value measurement guidance, the Company made an accounting policy election to measure the credit risk of its derivative financial instruments that are subject to master netting agreements on a net basis by counterparty portfolio. ​ See Note 14. Hedging and Derivative Financial Instruments Dividends— Stockholders’ Equity Revenue Recognition entrées The Company accounts for revenue in accordance with ASC 606, Revenue from Contracts with Customers The Company assesses the goods promised in its customers’ purchase orders and identifies a performance obligation for each promise to transfer a good (or bundle of goods) that is distinct. To identify the performance obligations, the Company considers all the goods promised, whether explicitly stated or implied based on customary business practices. Sales to customers generally do not include more than one performance obligation. When a contract does contain more than one performance obligation, the contract’s transaction price is allocated to each performance obligation based on its relative standalone selling price. The standalone selling price for each distinct good is generally determined by list price. Revenue is reported net of applicable discounts and allowances. Trade promotions are recorded as a reduction to net sales with a corresponding reduction to accounts receivable at the time of revenue recognition for the underlying sale. The recognition of trade promotions requires management to make estimates regarding the volume of incentive that will be redeemed and their total cost. Customers may deduct from future payments for defective or non-conforming products. As a result, a related refund liability is estimated and recorded as a reduction in sales. This return estimate is reviewed and updated each period and is based on historical sales and return experience. The Company has identified certain incremental costs to obtain a contract, primarily sales and broker commissions. The Company continues to expense these costs as incurred because the amortization period for the costs would be one year or less. The Company does not incur significant fulfillment costs requiring capitalization. The Company has elected the following practical expedients in accordance with ASC 606. ● Significant financing component – The Company has elected to not adjust the promised amount of consideration for the effects of significant financing components as the Company expects, at contract inception, that the period between the transfer of a promised good to a customer and when the customer pays for that good will be one year or less. ● Measurement of transaction price – The Company has elected to exclude from the measurement of transaction price all taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction and collected by the Company from a customer for sales taxes. ● Shipping and handling costs – The Company includes shipping and handling costs associated with outbound freight within cost of sales. These costs are accounted for as fulfillment costs as they are incurred. Advertising and Marketing Research and Development Equity-Based Compensation The Company determined the fair value of the Incentive Units as of the grant date and recognizes the compensation expense on a straight-line basis over the requisite service period, which is generally the vesting period of the Incentive Units. Certain Incentive Units have market and performance vesting conditions depending upon a change-in-control and achievement of certain metrics. The related compensation expense is recognized when the probability of the event is likely and performance criteria are met. In connection with the IPO, the Limited Partnership distributed its shares of Sovos Brands, Inc. common stock to its limited partners, including holders of IUs, in accordance with the applicable terms of its partnership agreement. Holders of IUs received shares of common stock and restricted common stock of Sovos Brands, Inc. in respect of their IUs. In connection with the IPO, a change in vesting of the original performance-based IUs, and accordingly the related distributed restricted stock, was considered to be a modification to the grants and required the shares to be revalued using a Monte Carlo simulation model. Equity-based compensation expense is recognized for these awards on a straight-line basis over the service period, regardless of the eventual number of shares that are earned based upon the performance condition. Subsequent to the IPO, The fair value of the modified performance-based restricted stock awards was calculated using a Monte Carlo simulation option pricing model. Equity-Based Compensation Subsequent to the IPO, employees and certain nonemployees of the Company have received, and may in the future receive, equity-based compensation in the form of restricted stock units with service-based vesting conditions, using the fair market value of the Company’s common stock to measure fair value and in the form of restricted stock units with performance-based vesting conditions using a Monte Carlo simulation model to determine the grant-date fair value. Equity-based compensation expense is recognized on a straight-line basis over the requisite service period of the award based on their grant-date fair value. The Company recognizes forfeitures as they occur. Income Taxes Certain judgments, estimates, and assumptions could affect the carrying value of deferred tax assets and valuation allowances, if any, and deferred tax liabilities in the Company’s consolidated financial statements. We recognize deferred tax assets to the extent that we believe that these assets are more likely than not to be realized. In making such a determination, we consider all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax-planning strategies, and results of recent operations. If we determine that we would be able to realize our deferred tax assets in the future in excess of their net recorded amount, we would make an adjustment to the deferred tax asset valuation allowance, which would reduce the provision for income taxes. The Company accounts for uncertain tax positions in accordance with the provisions of ASC 740, Income Taxes Concentrations of Credit Risk— Credit risk for the Company was concentrated in three customers who each comprised more than 10% of the Company’s total sales for the fiscal years ended December 31, 2022, December 25, 2021 and December 26, 2020. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fiscal Year Ended ​ ​ December 31, 2022 ​ December 25, 2021 ​ December 26, 2020 Costco Wholesale Corporation ​ 17% ​ 18% ​ 16% Walmart Inc. ​ 13% ​ 13% ​ 13% United Natural Foods, Inc. ​ 10% ​ 11% ​ N/A KeHE Distributors ​ N/A ​ N/A ​ 11% N/A – Not applicable as the customer was not significant during these fiscal years. At December 31, 2022 and December 25, 2021, the following percentages of the Company’s accounts receivable, net were related to these significant customers for the periods in which the customers were significant: ​ ​ ​ ​ ​ ​ ​ ​ Fiscal Year Ended ​ ​ December 31, 2022 ​ December 25, 2021 Costco Wholesale Corporation ​ 32% ​ 14% Walmart Inc. ​ 15% ​ 15% United Natural Foods, Inc. ​ N/A ​ N/A ____________ N/A – Not applicable as the customer was not significant during these fiscal years. No other customers individually had greater than 10% of total gross sales during these periods. The Company believes that there is no significant or unusual credit exposure at this time. Concentrations of Vendor Risk ​ New Accounting Pronouncements and Policies Recently Issued Accounting Pronouncements Not Yet Adopted In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting. Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848 ​ In March 2022, the FASB issued ASU No. 2022-02, Financial Instruments-Credit Losses (Topic 326) Troubled Debt Restructurings and Vintage Disclosures fiscal years. The amendments of ASU 2022-02 require that an entity disclose current-period gross write-offs by year of origination for financing receivables and net investments in leases. The Company expects the impact of this amendment to be administrative and does not anticipate any material impact to the consolidated financial statements. ​ No other new accounting pronouncement issued or effective during the fiscal year had or is expected to have a material impact on the Company’s consolidated financial statements.

Loss on Asset Sale

Loss on Asset Sale	12 Months Ended
	Dec. 31, 2022
Loss on Asset Sale
Loss on Asset Sale	Note On December 30, 2022, the Company completed the divestiture of the Birch Benders The divestiture of the Birch Benders For the fiscal year ended December 31, 2022, the Company recognized a pre-tax loss on the sale of Birch Benders ​ ​ ​ ​ (In thousands) ​ ​ ​ Cash received ​ $ 40,000 Assets sold: ​ ​ Inventory ​ (5,424) Intangible assets, net ​ ​ (85,867) Total assets sold ​ (91,291) Loss on asset sale ​ $ (51,291) ​ Birch Benders was part of the Company’s Breakfast and Snacks Reporting Segment. See Note 7. Goodwill

Revenue Recognition

Revenue Recognition	12 Months Ended
	Dec. 31, 2022
Revenue Recognition
Revenue Recognition	Note Revenue disaggregated by brand is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fiscal Year Ended (In thousands) December 31, 2022 December 25, 2021 ​ December 26, 2020 Rao’s ​ $ 580,088 ​ $ 419,966 ​ $ 313,618 Noosa ​ 176,166 ​ 163,476 ​ ​ 153,492 Michael Angelo’s ​ 80,925 ​ 79,414 ​ ​ 83,896 Birch Benders ​ 41,192 ​ 56,330 ​ ​ 9,061 Total net sales ​ $ 878,371 ​ $ 719,186 ​ $ 560,067 ​

Inventories, Net

Inventories, Net	12 Months Ended
	Dec. 31, 2022
Inventories, Net
Inventories, Net	Note 5. Inventories , Net ​ Inventories, net consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) December 31, 2022 December 25, 2021 Finished goods ​ $ 76,404 ​ $ 38,715 Raw materials and packaging supplies ​ 16,198 ​ 12,900 Total inventories, net ​ $ 92,602 ​ $ 51,615 ​

Property and Equipment, Net

Property and Equipment, Net	12 Months Ended
	Dec. 31, 2022
Property and Equipment, Net
Property and Equipment, Net	Note Property and equipment, net, consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) December 31, 2022 December 25, 2021 Machinery & equipment ​ $ 63,077 ​ $ 45,329 Leasehold improvements ​ 40,288 ​ 39,296 Construction in progress ​ 6,384 ​ 12,074 Furniture & fixtures ​ 1,605 ​ 2,119 Other ​ 1,415 ​ 1,649 Gross property and equipment ​ 112,769 ​ 100,467 Less: Accumulated depreciation and amortization ​ 48,452 ​ 37,796 Property and equipment, net ​ $ 64,317 ​ $ 62,671 ​ Depreciation and amortization expense was approximately $11.6 million, $10.6 million and $10.6 million for the fiscal years ended December 31, 2022, December 25, 2021 and December 26, 2020, respectively, of which $10.1 million, $8.9 million and $9.1 million was recorded to cost of sales for the fiscal years ended December 31, 2022, December 25, 2021 and December 26, 2020, respectively.

Goodwill

Goodwill	12 Months Ended
	Dec. 31, 2022
Goodwill.
Goodwill	Note Changes in the carrying value of goodwill during the fiscal years ended December 31, 2022 and December 25, 2021 were as follows: ​ ​ ​ ​ ​ (In thousands) ​ Goodwill Balance as of December 26, 2020 $ 437,290 Purchase accounting adjustments ​ 161 Balance as of December 25, 2021 ​ $ 437,451 Impairment ​ (42,052) Balance as of December 31, 2022 ​ $ 395,399 ​ In the second quarter of fiscal 2022, the Company identified the underperformance of the Birch Benders reporting unit as an indicator that required a quantitative assessment to be performed. The Company compared the estimated fair value of the Birch Benders reporting unit to the carrying value of its assets and liabilities, including goodwill. The fair value was established using generally accepted valuation methodologies, including discounted cash flow analysis and comparable public company analysis, both methods weighted equally. It was determined that the carrying value of the goodwill exceeded the Company’s estimate of the implied fair value of goodwill. As a result, the Company recorded an impairment charge for the full amount of goodwill, $42.1 million, during the fiscal year ended December 31, 2022. For goodwill impairment testing for the fiscal years ended December 31, 2022 and December 25, 2021, the Company determined it had three reporting units: Rao's / Michael Angelo’s (combined), Noosa and Birch Benders. In the fourth quarter of fiscal 2022, the Company performed a qualitative analysis of the goodwill for Rao’s/ Michael Angelo’s and Noosa. The qualitative assessment did not identify indicators of impairment, and it was determined that it was more likely than not the reporting units had a fair value in excess of their carrying value. Accordingly, no further impairment assessment was necessary, and the Company determined their reporting units were not impaired. There were no further impairment charges related to goodwill in the fiscal year ended December 31, 2022. There were no impairment charges related to goodwill during the fiscal years ended December 25, 2021 and December 26, 2020.

Intangible Assets, Net

Intangible Assets, Net	12 Months Ended
	Dec. 31, 2022
Intangible Assets, Net
Intangible Assets, Net	Note 8. Intangible Assets, Net Intangible assets, net, consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 ​ ​ Gross carrying ​ Accumulated ​ Sale of ​ Net carrying (In thousands) ​ amount ​ amortization ​ intangible assets ​ amount Intangible assets - definite lives ​ ​ ​ ​ ​ Customer relationships ​ $ 213,000 ​ $ 89,201 ​ $ 5,082 ​ $ 118,717 Tradename ​ 192,347 ​ 31,732 ​ 80,785 ​ 79,830 ​ ​ ​ 405,347 ​ ​ 120,933 ​ ​ 85,867 ​ ​ 198,547 Intangible assets - indefinite lives ​ ​ ​ ​ ​ Tradename ​ ​ 153,000 ​ ​ — ​ ​ — ​ ​ 153,000 Total intangible assets ​ $ 558,347 ​ $ 120,933 ​ $ 85,867 ​ $ 351,547 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 25, 2021 ​ ​ Gross carrying ​ Accumulated ​ Net carrying (In thousands) amount amortization amount Intangible assets - definite lives ​ ​ ​ ​ ​ ​ Customer relationships ​ $ 213,000 ​ $ 71,330 ​ $ 141,670 Tradename ​ 192,347 ​ 22,362 ​ 169,985 ​ ​ ​ 405,347 ​ ​ 93,692 ​ ​ 311,655 Intangible assets - indefinite lives ​ ​ ​ ​ ​ ​ ​ ​ ​ Tradename ​ 153,000 ​ ​ — ​ ​ 153,000 Total intangible assets ​ $ 558,347 ​ $ 93,692 ​ $ 464,655 ​ In connection with the divestiture of the Birch Benders Loss on Asset Sale Amortization expense was approximately $27.2 million, $27.2 million and $23.2 million for the fiscal years ended December 31, 2022, December 25, 2021and December 26, 2020, respectively, of which all was included in selling, general and administrative expense in the Consolidated Statements of Operations. In the fourth quarter of fiscal 2022, the Company performed a qualitative analysis of the indefinite-lived intangible assets. The qualitative assessment did not identify indicators of impairment, and it was determined that it was more likely than not that the indefinite-lived intangible assets had fair values in excess of their carrying values. Accordingly, no further impairment assessment was necessary. There were no impairment charges related to indefinite-lived intangible assets recognized in the fiscal years ended December 31, 2022, December 25, 2021 and December 26, 2020, respectively. ​ Estimated total intangible amortization expense during the next five fiscal years and thereafter is as follows: ​ ​ ​ ​ ​ (In thousands) Amortization 2023 ​ $ 22,425 2024 ​ 22,425 2025 ​ 22,425 2026 ​ 22,425 2027 ​ 17,782 Thereafter ​ 91,065 Total ​ $ 198,547 ​

Accrued Expenses

Accrued Expenses	12 Months Ended
	Dec. 31, 2022
Accrued Expenses
Accrued Expenses	Note 9. Accrued Expenses ​ Accrued expenses consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) December 31, 2022 December 25, 2021 Accrued trade ​ $ 32,337 ​ $ 23,122 Accrued general expense ​ 17,911 ​ 15,327 Accrued compensation and benefits ​ 17,328 ​ 10,478 Accrued marketing ​ 1,995 ​ 2,830 Total accrued expenses ​ $ 69,571 ​ $ 51,757 ​

Long-Term Debt

Long-Term Debt	12 Months Ended
	Dec. 31, 2022
Long-Term Debt
Long-Term Debt	Note Long-term debt consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 ​ ​ ​ ​ ​ Unamortized ​ ​ ​ ​ ​ ​ ​ ​ debt issuance ​ ​ ​ (In thousands) ​ Principal ​ costs ​ Total debt, net Initial First Lien Term Loan Facility $ 480,800 $ (5,374) $ 475,426 Finance lease liabilities ​ ​ 7,017 ​ ​ — ​ 7,017 Total debt ​ $ 487,817 ​ $ (5,374) ​ ​ 482,443 Less: current portion of finance lease liabilities ​ ​ ​ ​ ​ ​ ​ 99 Total long-term debt ​ ​ ​ ​ ​ $ 482,344 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 25, 2021 ​ ​ ​ ​ Unamortized ​ ​ ​ ​ ​ ​ ​ ​ debt issuance ​ ​ ​ (In thousands) ​ Principal ​ costs ​ Total debt, net Senior debt ​ $ 480,800 ​ $ (6,377) ​ $ 474,423 Finance lease liabilities ​ 7,095 ​ — ​ 7,095 Total debt ​ $ 487,895 ​ $ (6,377) ​ 481,518 Less: current portion of finance lease liabilities ​ ​ ​ ​ 98 Long-term debt ​ ​ ​ $ 481,420 ​ Senior Debt In November 2018, in conjunction with the acquisition of Noosa, Sovos Brands Intermediate, Inc. (“Sovos Intermediate”) entered into a Credit Facility Agreement with a term loan of $280 million (“2018 Term Loan”) and a revolving line of credit of $45 million (“Revolving Line of Credit”). In October 2020, Sovos Intermediate entered into an amendment to its Credit Agreement that provided, among other things, for an additional $100.0 million term loan (the “Incremental Term Loan”). In June 2021, Sovos Intermediate Sovos Intermediate Sovos Intermediate Stockholders’ Equity As the debt transaction on the Initial First Lien Term Loan Facility and Initial Second Lien Facility was accounted for as an extinguishment of the old debt, the Company wrote off $9.4 million of the existing 2018 Term Loan and Incremental Term Loan debt issuance costs to expense. The Initial First Lien Term Loan Facility and Initial Second Lien Facility were issued with discounts of $1.5 million and $4.0 million respectively, and the Company paid debt issuance costs of $6.8 million and $0.5 million respectively. The discounts and debt issuance costs paid on the Initial First Lien Term Loan Facility and Initial Second Lien Facility were capitalized. The debt transaction on the Revolving Facility was accounted for as a debt modification. The Company continued to amortize $0.2 million of the existing Revolving Line of Credit debt issuance costs over the new life of the debt, wrote off $0.3 million of the existing Revolving Line of Credit debt issuance costs to expense, and paid $1.1 million in debt issuance costs for the new Revolving Facility, which was capitalized. In September 2021, using net proceeds of the IPO, the Company paid the full outstanding principal balance on the Initial Second Lien Facility of $200.0 million plus accrued interest of approximately $2.9 million. Upon the full prepayment of the Initial Second Lien Facility, the Company recognized a loss on the loan extinguishment resulting in a write-off of $4.3 million of the related unamortized issuance costs and discounts. Additionally, in September 2021 and October 2021, the Company prepaid $59.7 million and $39.5 million, respectively, of the outstanding principal balance under the Initial First Lien Term Loan Facility, plus total accrued interest of approximately $0.9 million. Upon the partial prepayment of the Initial First Lien Term Loan Facility, the Company recognized a $1.4 million proportional loss on the partial extinguishment of the related unamortized issuance costs and discounts. The remaining principal balance on the Initial First Lien Term Loan Facility, after the $59.7 million and $39.5 million prepayments, is $480.8 million. The Company has directed Credit Suisse to apply the prepayments against future scheduled principal installments, which eliminates all future principal payments for the remaining term of the loan. The amortization of debt issuance costs and discount of $1.2 million, $1.9 million and $1.8 million for the fiscal years ended December 31, 2022, December 25, 2021 and December 26, 2020, respectively, is included within interest expense in the Consolidated Statements of Operations. The interest rate for the Initial First Lien Term Loan Facility and Revolving Facility is London Inter-Bank Offered Rate (“LIBO Rate”) plus an applicable rate contingent on the Company’s calculated first lien leverage ratio, ranging from 400 to 425 basis points, and was subject to a 50 basis points reduction, at each level, after the consummation of its IPO. In no event shall the LIBO Rate be less than 0.75% per annum for the Initial First Lien Term Loan Facility or less than 0.00% per annum for the Revolving Line of Credit. The Initial First Lien Term Loan Facility matures on June 8, 2028 and the Revolving Facility matures on June 8, 2026. The Initial First Lien Term Loan Facility is collateralized by substantially all of the assets of the Company. On December 30, 2022, Sovos Intermediate and Birch Benders, LLC, a Delaware limited liability company, sold the Birch Benders The interest rate for the Initial Second Lien Facility was LIBO Rate plus 8.00% per annum and was subject to a 25 basis points reduction after the consummation of an IPO. In no event could the LIBO Rate be less than 0.75% per annum. The Initial Second Lien Facility was originally scheduled to mature on June 8, 2029 and was collateralized by substantially all of the assets of the Company. As described above, in September 2021, the Initial Second Lien Facility was paid in full. The Company had available credit of $125 million under the Revolving Facility as of December 31, 2022 and December 25, 2021, respectively. There was zero outstanding on the Company’s Revolving Credit Facilities as of December 31, 2022 or December 25, 2022. As of December 31, 2022 and December 25, 2021, the effective interest rate for the Initial First Lien Term Loan Facility and Revolving Facility was 7.91% and 4.50%, respectively. As of December 31, 2022, the future minimum principal payments for the next five years and thereafter are as follows: ​ ​ ​ ​ ​ Fiscal Year Ending (In thousands) 2023 ​ $ — 2024 ​ — 2025 ​ — 2026 ​ — 2027 ​ — Thereafter ​ ​ 480,800 Total ​ $ 480,800 ​ Loan Covenants In connection with the First Lien Credit Agreement, the Company has various financial, affirmative, and negative covenants that it must adhere to as specified within the loan agreements. The First Lien Credit Agreement contains a springing financial covenant, which requires the Borrower to maintain a first lien net leverage ratio of consolidated first lien net debt to consolidated EBITDA (with certain adjustments as set forth in the First Lien Credit Agreement) no greater than 6.95 :1.00. Such financial covenant is tested only if outstanding revolving loans (excluding any undrawn letters of credit) minus unrestricted cash exceed 35% of the aggregate revolving credit commitments. The financial covenant is subject to customary “equity cure” rights. In addition, under the First Lien Credit Agreement, an annual excess cashflow calculation is required, to determine if any excess is required to be paid on the Initial First Lien Term Loan Facility. As of December 31, 2022, the Company had no outstanding revolving loans, and did not meet the requirement to test the financial covenant under the First Lien Credit Agreement. Finance Lease Liabilities The Company classifies a lease as a finance lease if the lease term is for a major part, or at least 75%, of the remaining economic life of the underlying asset, or if a lease triggers the present value test or the alternative use test. See Note 11. Leases Related Party Transactions

Leases

Leases	12 Months Ended
	Dec. 31, 2022
Leases
Leases	Note The Company leases distribution centers, manufacturing facilities, equipment, and office space. Generally, the term for leases ranges from 2 10 years 5 years 2 30 years Operating and finance lease costs are included within Cost of sales and Selling, general, and administrative expenses in the Consolidated Statements of Operations. The components of lease expense were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fiscal Year Ended (In thousands) ​ Statement of Operations Caption ​ December 31, 2022 ​ December 25, 2021 Operating lease cost: ​ ​ ​ Lease cost Cost of sales and Selling, general and administrative ​ $ 3,313 ​ $ 3,266 Variable lease cost (1) Cost of sales and Selling, general and administrative ​ 1,418 ​ 1,384 Total operating lease cost ​ ​ 4,731 ​ 4,650 ​ ​ ​ ​ ​ ​ ​ ​ ​ Short term lease cost Cost of sales and Selling, general and administrative ​ 240 ​ 222 ​ ​ ​ ​ ​ ​ ​ ​ ​ Finance lease cost: ​ ​ ​ ​ Amortization of right-of-use assets Cost of sales and Selling, general and administrative ​ 261 ​ 261 Interest on lease liabilities Interest expense, net ​ 530 ​ 532 Total finance lease cost ​ ​ 791 ​ 793 ​ ​ ​ ​ ​ ​ ​ ​ ​ Total lease cost ​ ​ ​ $ 5,762 ​ $ 5,665 ​ (1) Variable lease cost primarily consists of common area maintenance, utilities, taxes, and insurance. The gross amount of assets and liabilities related to both operating and finance leases were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ Balance Sheet Caption ​ December 31, 2022 ​ December 25, 2021 Assets ​ ​ Operating lease right-of-use assets Operating lease right-of-use assets ​ $ 13,332 ​ $ 15,672 Finance lease right-of-use assets Property and equipment, net ​ 6,038 ​ 6,299 Total lease assets ​ ​ $ 19,370 ​ $ 21,971 ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities ​ ​ Current: ​ ​ ​ ​ ​ ​ ​ ​ Operating lease liabilities ​ Current portion of long-term operating lease liabilities ​ $ 3,308 ​ $ 3,216 Finance lease liabilities ​ Current portion of long-term debt ​ ​ 99 ​ ​ 98 Long-term: ​ ​ ​ ​ ​ ​ ​ ​ Operating lease liabilities Long-term operating lease liabilities ​ 14,063 ​ 17,302 Finance lease liabilities Long-term debt, net of debt issuance costs ​ 6,918 ​ 6,997 Total lease liabilities ​ ​ $ 24,388 ​ $ 27,613 ​ ​ The weighted-average remaining lease term and weighted-average discount rate for operating and finance leases were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 December 25, 2021 Weighted-average remaining lease term (in years): ​ ​ ​ ​ ​ Operating leases ​ 6.4 ​ ​ 7.1 ​ Finance leases ​ 34.2 ​ ​ 34.8 ​ Weighted-average discount rate ​ ​ ​ ​ ​ ​ Operating leases ​ 4.9 % ​ 4.9 % Finance leases 7.8 % ​ 7.8 % ​ Future maturities of lease liabilities as of December 31, 2022 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) Operating Leases Finance Leases Fiscal year ending: ​ ​ 2023 ​ $ 4,062 ​ $ 609 2024 ​ 3,493 ​ 557 2025 ​ 2,982 ​ 549 2026 ​ 3,005 ​ 520 2027 ​ 3,064 ​ 525 Thereafter ​ 3,856 ​ 18,445 Total lease payments ​ 20,462 ​ 21,205 Less: Interest ​ (3,091) ​ (14,188) Present value of lease liabilities ​ $ 17,371 ​ $ 7,017 ​ As of December 31, 2022, the Company did not have any significant additional operating or finance leases that have not yet commenced. Supplemental cash flow and other information related to leases were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ Fiscal Year Ended (In thousands) ​ December 31, 2022 ​ December 25, 2021 Cash paid for amounts included in the measurement of lease liabilities ​ ​ Operating cash flows from operating leases ​ $ 4,045 ​ $ 3,893 Operating cash flows from finance leases ​ 530 ​ 532 Financing cash flows from finance leases ​ ​ 78 ​ $ 66 Right-of-use assets obtained in exchange for new lease liabilities ​ ​ ​ ​ ​ ​ Finance leases ​ ​ — ​ ​ — Operating leases ​ ​ 78 ​ ​ 1,638 ​

Commitments and Contingencies

Commitments and Contingencies	Dec. 31, 2022
Commitments and Contingencies.
Commitments and Contingencies	Note Litigation From time to time, we are subject to various legal actions arising in the ordinary course of our business. We cannot predict with reasonable assurance the outcome of these legal actions brought against us as they are subject to uncertainties. Accordingly, any settlement or resolution in these legal actions may occur and affect our net income (loss) in such period as the settlement or resolution. We do not believe the outcome of any existing legal actions would have a material adverse effect on our consolidated financial statements taken as a whole. Purchase Commitments The Company has third-party purchase obligations for raw materials, packaging, and co-manufacturing. These commitments have been entered into based on future projected needs. For the fiscal years ended December 31, 2022 and December 25, 2021, the Company made third-party purchases in the amount of $3.0 million and $2.4 million, respectively, under purchase commitments. As of December 31, 2022, the Company had outstanding minimum purchase commitments with one supplier. The estimated annual minimum purchase commitments with the supplier are as follows: ​ ​ ​ ​ ​ Fiscal Year Ending (In thousands) 2023 ​ $ 3,500 2024 ​ 3,500 2025 ​ 2,375 2026 ​ — 2027 ​ — Thereafter ​ — Total ​ $ 9,375 ​ See Note 19. Related Party Transactions

Fair Value of Financial Instrum

Fair Value of Financial Instruments	12 Months Ended
	Dec. 31, 2022
Fair Value of Financial Instruments
Fair Value of Financial Instruments	Note ASC 820, Fair Value Measurements and Disclosures (“ASC 820”), defines fair value as the price that would be received for an asset, or paid to transfer a liability, in an orderly transaction between market participants on the measurement date, and establishes a three-level fair value hierarchy that prioritizes the inputs used to measure fair value as follows: Level 1: quoted prices (unadjusted) in active markets for identical assets or liabilities; Level 2: inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e., as prices) or indirectly (i.e., derived from prices); and Level 3: inputs for the asset or liability that are based on unobservable inputs in which there is little or no market data. Cash and cash equivalents, current assets and current liabilities Cash and cash equivalents, accounts receivable, prepaid expenses, accounts payable and accrued expenses are reflected in the Consolidated Balance Sheets at carrying value, which approximates fair value due to the short-term nature of these instruments. Borrowing instruments The Company’s borrowing instruments are recorded at their carrying values in the Consolidated Balance Sheets, which may differ from their respective fair values. The carrying values and estimated fair values of the Company’s Initial First Lien Term Loan Facility and Revolving Facility approximate their carrying values as of December 31, 2022 and December 25, 2021, based on interest rates currently available to the Company for similar borrowings. Derivative financial instruments The Company uses option contracts to manage foreign currency risk and uses interest rate caps (options) to manage interest rate risk. The Company’s derivative assets and liabilities are carried at fair value as required by GAAP. The estimated fair values of the derivative assets and liabilities on the Company’s forward contracts are based on foreign currency exchange rates in active markets. The estimated fair value of the interest rate instruments is determined using widely accepted valuation techniques, including discounted cash flow analysis on the expected cash flows of each derivative. This analysis reflects the contractual terms of the derivatives, including the period to maturity, and uses observable market-based inputs, including interest rate curves and implied volatilities. To comply with the provisions of ASC 820, we incorporate credit valuation adjustments to appropriately reflect both our own nonperformance risk and the respective counterparty’s nonperformance risk in the fair value measurements. In adjusting the fair value of our derivative contracts for the effect of nonperformance risk, we have considered the impact of netting and any applicable credit enhancements, such as collateral postings, thresholds, mutual puts and guarantees. Although we have determined that the majority of the inputs used to value our derivatives fall within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with our derivatives utilize Level 3 inputs, such as estimates of current credit spreads to evaluate the likelihood of default by ourself and our counterparties. We have determined that the significance of the impact of the credit valuation adjustments made to our derivative contracts, which determination was based on the fair value of each individual contract, was not significant to the overall valuation. As a result, all of our derivatives held as of December 31, 2022 were classified as Level 2 of the fair value hierarchy. There were no derivative financial instruments as of December 25, 2021. The table below presents the Company’s assets and liabilities measured at fair value on a recurring basis as of December 31, 2022, aggregated by the level in the fair value hierarchy within which those measurements fall. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements Using (In thousands) ​ ​ Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1) ​ Significant Other Observable Inputs (Level 2) ​ Significant Unobservable Inputs (Level 3) ​ Balance at December 31, 2022 Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivatives in cash flow hedging relationships ​ ​ $ — ​ $ 3,628 ​ $ — ​ $ 3,628 Total assets ​ ​ $ — ​ $ 3,628 ​ $ — ​ $ 3,628 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivatives not designated as hedging instruments ​ ​ $ — ​ $ 33 ​ $ — ​ $ 33 Total liabilities ​ ​ $ — ​ $ 33 ​ $ — ​ $ 33 ​ The fair value estimates presented herein are based on information available to management as of December 31, 2022. These estimates are not necessarily indicative of the amounts we could ultimately realize. See Note 14. Hedging and Derivative Financial Instruments Non-financial assets ​ The Company’s non-financial assets, which primarily consist of property and equipment, right-of-use assets, goodwill and other intangible assets, are not required to be carried at fair value on a recurring basis and are reported at carrying value. The fair values of these assets are determined, as required, based on Level 3 measurements, including estimates of the amount and timing of future cash flows based upon historical experience, expected market conditions, and management’s plans. ​ In the second quarter of fiscal 2022, the Company determined that the carrying value of the Birch Benders goodwill exceeded its estimate of the implied fair value of goodwill. As a result, the Company recorded an impairment charge for the full amount of goodwill, $42.1 million. See Note 7. Goodwill ​ Assets and liabilities that are measured at fair value on a nonrecurring basis relate primarily to goodwill, intangibles, and property and equipment, which are remeasured when the derived fair value is below the carrying value on the Company’s Consolidated Balance Sheets. For these assets, the Company does not periodically adjust carrying value to fair value except in the event of impairment. When the impairment has occurred, the Company measures the required charges and adjusts the carrying value as discussed in Note 2. Summary of Significant Accounting Policies Goodwill Intangible Assets, Net There were no transfers of financial instruments between the three levels of fair value hierarchy during the fiscal years ended December 31, 2022 and December 25, 2021.

Hedging and Derivative Financia

Hedging and Derivative Financial Instruments	12 Months Ended
	Dec. 31, 2022
Hedging and Derivative Financial Instruments
Hedging and Derivative Financial Instruments	Note 14. Hedging and Derivative Financial Instruments The Company is directly and indirectly affected by changes in certain market conditions. These changes in market conditions may adversely impact the Company’s financial performance and are referred to as “market risks.” When deemed appropriate, the Company uses derivatives as a risk management tool to mitigate the potential impact of certain market risks. The primary market risk managed by the Company through the use of derivative instruments is foreign currency exchange rate risk and interest rate risk. ​ The Company uses various types of derivative instruments including, but not limited to, option contracts, collars and interest rate caps. An option contract is an agreement that conveys the purchaser the right, but not the obligation, to buy or sell a quantity of a currency or commodity at a predetermined rate or price during a period or at a time in the future. A collar is a strategy that uses a combination of options to limit the range of possible positive or negative returns on an underlying asset or liability to a specific range, or to protect expected future cash flows. To do this, an investor simultaneously buys a put option and sells (writes) a call option, or alternatively buys a call option and sells (writes) a put option. An interest rate cap involves the receipt of variable amounts from a counterparty if interest rates rise above the strike rate on the contract in exchange for an up-front premium. We do not enter into derivative financial instruments for trading purposes. ​ All derivative instruments are carried at fair value in the Consolidated Balance Sheets, primarily in the following line items, as applicable: prepaid expenses and other current assets, other long-term assets and accrued expenses. The carrying values of the derivatives reflect the impact of netting agreements. These netting agreements allow the Company to net settle positive and negative positions (assets and liabilities) arising from different transactions with the same counterparty. ​ The accounting for gains and losses that result from changes in the fair values of derivative instruments depends on whether the derivatives have been designated and qualify as hedging instruments and the type of hedging relationships. Derivatives can be designated as fair value hedges, cash flow hedges or economic hedges. The interest rate cap derivative is designated and qualifies as a cash flow hedge. The foreign currency derivative instruments are considered an economic hedge as they do not qualify for hedge accounting treatment. The Company determines the fair values of its derivatives based on quoted market prices or pricing models using current market rates. The notional amounts of the derivative financial instruments do not necessarily represent amounts exchanged by the parties and, therefore, are not a direct measure of our exposure to the financial risks described above. The amounts exchanged are calculated by reference to the notional amounts and by other terms of the derivatives, such as interest rates or foreign currency exchange rates. The Company does not view the fair values of its derivatives in isolation but rather in relation to the fair values or cash flows of the underlying hedged transactions or other exposures. Virtually all our derivatives are straightforward over-the-counter instruments with liquid markets. See Note 13. Fair Value of Financial Instruments ​ Cash Flow Hedges of Interest Rate Risk ​ The Company’s objectives in using interest rate derivatives are to add stability to interest expense and manage its exposure to interest rate movements. To accomplish these objectives, the Company primarily uses interest rate caps as part of its interest rate risk management strategy. Interest rate caps designated as cash flow hedges involve the receipt of variable amounts from a counterparty if interest rates rise above the strike rate on the contract in exchange for an up-front premium. During the fiscal year ended December 31, 2022, such derivatives were used to hedge the variable cash flows associated with existing variable-rate debt. ​ For derivatives designated and that qualify as cash flow hedges of interest rate risk, the gain or loss on the derivative is recorded in OCI in the Consolidated Statements of Other Comprehensive Income and subsequently reclassified into interest expense in the same period(s) during which the hedged transaction affects earnings. Amounts reported in OCI related to derivatives will be reclassified to interest expense as interest payments are made on the Company’s variable-rate debt. Over the next 12 months, the Company estimates that an additional $1.4 million will be reclassified as a reduction to interest expense. ​ During the fiscal year ended December 31, 2022, the Company entered into a cash flow hedge to manage interest rate risk on its variable rate under the Initial First Lien Term Loan Facility. As of December 31, 2022, the Company had one LIBOR interest rate cap agreement with a total hedged notional amount of $240.0 million that was designated as a cash flow hedge of interest rate risk. The interest rate cap has a strike price of 4.00% and a maturity date of July 31, 2024. The interest rate cap was determined to be fully effective during all periods presented. ​ Within the Company’s Consolidated Balance Sheets, the interest rate cap is recorded at fair value. The cash flows related to the interest rate caps are classified as operating activities in the Consolidated Statements of Cash Flows. ​ Economic (Non-Designated) Hedging Strategy ​ The Company uses certain derivatives as economic hedges of foreign currency. Although these derivatives did not qualify for hedge accounting, they are effective economic hedges. The Company uses foreign currency economic hedges to offset the earnings impact that fluctuations in foreign currency exchange rates have on certain monetary assets and liabilities denominated in nonfunctional currencies outside of a contractually agreed upon foreign exchange rate range. The total notional values of derivatives related to our foreign currency economic hedges were $145.7 million and $0 as of December 31, 2022 and December 25, 2021, respectively. ​ The changes in the fair values of economic hedges used to offset those monetary assets and liabilities are immediately recognized in earnings in the selling, general and administrative line item in our Consolidated Statements of Operations. Within the Company’s Consolidated Balance Sheets, the foreign currency economic hedges are recorded at fair value. The cash flows related to the foreign currency economic hedges are classified as operating activities in the Consolidated Statements of Cash Flows. ​ The following table presents the fair values of the Company’s derivative instruments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 ​ December 25, 2021 (In thousands) ​ Location Derivative Assets Derivative Liabilities Derivative Assets Derivative Liabilities Derivatives not designated as hedging instruments under Subtopic 815-20 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency contracts (1) ​ Accrued expenses ​ $ — ​ $ 33 ​ $ — ​ $ — Total derivatives not designated as hedging instruments ​ ​ ​ $ — ​ $ 33 ​ $ — ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivatives designated as hedging instruments under Subtopic 815-20 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate caps - short term ​ Prepaid expenses and other current assets ​ $ 1,997 ​ $ — ​ $ — ​ $ — Interest rate caps - long term ​ Other long-term assets ​ ​ 1,631 ​ ​ — ​ ​ — ​ ​ — Total derivatives designated as hedging instruments ​ ​ ​ $ 3,628 ​ $ — ​ $ — ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total derivatives ​ ​ ​ $ 3,628 ​ $ 33 ​ $ — ​ $ — (1) Derivative instruments within this category are subject to master netting arrangements and are presented on a net basis in the Consolidated Balance Sheets in accordance with ASC 210, Balance Sheet, Subtopic 210-20. See tables below showing the effects of offsetting derivative assets and liabilities. ​ The following table presents the pre-tax effect of cash flow hedge accounting on accumulated OCI for the periods presented: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ Amount of Gain or (Loss) Recognized in OCI ​ ​ Fiscal Year Ended Derivatives in Subtopic 815-20 Hedging Relationships December 31, 2022 December 25, 2021 December 26, 2020 Derivatives in cash flow hedging relationships ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate caps ​ $ 2,150 ​ $ — ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income ​ ​ ​ Fiscal Year Ended Location of Gain or (Loss) Reclassified from Accumulated OCI into Income ​ December 31, 2022 December 25, 2021 December 26, 2020 Derivatives in cash flow hedging relationships ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest expense, net ​ $ 112 ​ $ — ​ $ — ​ The following table presents the effect of the Company’s derivative financial instruments on the Consolidated Statements of Operations for the periods presented: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gain (Loss) Recognized ​ ​ ​ ​ Fiscal Year Ended ​ ​ ​ ​ December 31, ​ December 25, ​ December 26, (In thousands) Statement of Operations Location 2022 2021 2020 Total amounts of expense presented in the Statements of Operations in which the derivatives not designated as hedging are recorded ​ Selling, general and administrative ​ $ 163,025 ​ $ 135,060 ​ $ 124,612 The effects of derivatives not designated as hedging instruments under Subtopic 815-20: ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency contracts ​ Selling, general and administrative ​ (33) ​ — ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ Total amounts of expense presented in the Statements of Operations in which the derivatives designated as hedging are recorded ​ Interest expense, net ​ 27,851 ​ 30,885 ​ 19,895 The effects of derivatives designated as hedging instruments under Subtopic 815-20: ​ ​ ​ ​ ​ ​ ​ ​ Interest rate caps ​ Interest expense, net ​ 112 ​ — ​ — ​ The net amounts of derivative assets or liabilities in the tables below can be reconciled to the tabular disclosure of fair value which provides the location that derivative assets and liabilities are presented on the Consolidated Balance Sheets. The following tables present a gross presentation, the effects of offsetting, and a net presentation of the Company’s derivatives as of December 31, 2022. The Company had no derivatives ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Offsetting of Derivative Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross Amounts Not Offset in the Balance Sheet ​ ​ ​ ​ Gross Amounts of Recognized Assets Gross Amounts Offset in the Balance Sheet Net Amounts of Assets Presented in the Balance Sheet ​ Financial Instruments Cash Collateral Posted Gross Amounts of Recognized Assets Derivatives ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency contracts ​ $ 56 ​ $ (56) ​ $ — ​ $ — ​ $ — ​ $ — Total derivatives, subject to a master netting arrangement ​ ​ 56 ​ ​ (56) ​ ​ — ​ ​ — ​ ​ — ​ ​ — Total derivatives, not subject to a master netting arrangement ​ ​ 3,628 ​ ​ — ​ ​ ​ ​ ​ — ​ ​ — ​ ​ 3,628 Total derivatives ​ $ 3,684 ​ $ (56) ​ $ ​ ​ $ — ​ $ — ​ $ 3,628 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Offsetting of Derivative Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross Amounts Not Offset in the Balance Sheet ​ ​ ​ ​ Gross Amounts of Recognized Liabilities Gross Amounts Offset in the Balance Sheet Net Amounts of Liabilities Presented in the Balance Sheet ' Financial Instruments Cash Collateral Posted Net Amount Derivatives ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency contracts ​ $ (89) ​ $ 56 ​ $ (33) ​ $ — ​ $ — ​ $ (33) Total derivatives, subject to a master netting arrangement ​ ​ (89) ​ ​ 56 ​ ​ (33) ​ ​ — ​ ​ — ​ ​ (33) Total derivatives, not subject to a master netting arrangement ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Total derivatives ​ $ (89) ​ $ 56 ​ $ (33) ​ $ — ​ $ — ​ $ (33) ​

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2022
Stockholders' Equity
Stockholders' Equity	Note 15. Stockholders’ Equity Dividend distribution ​ On June 8, 2021, the Company paid a one-time cash dividend to the Limited Partnership. The total amount of the dividend was $400 million and was recorded against APIC. ​ Stock split On September 8, 2021, the Company filed a certificate of amendment to its Certificate of Incorporation (“Certificate of Amendment”) with the Secretary of State of the State of Delaware. Prior to the effective date of the Certificate of Amendment, the Company was authorized to issue 750,000 shares of common stock at $0.01 par value. As a result of the filing of the Certificate of Amendment, the Company became authorized to issue 500,000,000 shares of common stock at $0.001 par value. P ursuant to the Certificate of Amendment, on September 8, 2021 the Company effected a stock split of its common stock, at a rate of 120.8 -for-1 (the “Stock Split”), accompanied by a corresponding increase in the Company’s issued and outstanding shares of common stock . No fractional shares of common stock were issued upon the Stock Split. Any holder of common stock with aggregated shares totaling to fractional shares were rounded up to the nearest whole share. The accompanying consolidated financial statements and related disclosure for periods prior to the Stock Split have been retroactively restated to reflect the filing of the Certificate of Amendment, including the Stock Split. As a result of the Stock Split, the Company had a total of 74,058,447 shares issued and outstanding as of September 8, 2021. In connection with the IPO, on September 22, 2021, the Limited Partnership distributed its shares of Sovos Brands, Inc. common stock to its limited partners, including holders of IUs, in accordance with the applicable terms of its partnership agreement. Preferred Stock On September 23, 2021, the Company filed an amended and restated certificate of incorporation (“Amended and Restated Charter”) with the Secretary of State of the State of Delaware, which was effective on September 23, 2021 . As a result of the filing of the Amended and Restated Charter, the Company was authorized to issue 510,000,000 shares, divided into two classes as follows: (i) 500,000,000 shares are designated shares of common stock, par value $0.001 per share, and (ii) 10,000,000 shares are designated shares of preferred stock, par value $0.001 per share. Organizational Transactions ​ On September 27, 2021, the Company closed its IPO of 23,334,000 shares of common stock, $0.001 par value per share, at an offering price of $12.00 per share, and received net proceeds from the IPO of approximately $263.2 million, net of $16.8 million in underwriting discounts and commissions. ​ Subsequent to the IPO, the underwriters exercised their option to purchase an additional 3,500,100 shares of common stock. The Company closed its sale of such additional shares on October 5, 2021, resulting in net proceeds of approximately $39.5 million, net of $2.5 million in underwriting discounts and commissions. ​ On August 10, 2022, the Company completed a secondary offering, in which certain of its stockholders (the “Selling Stockholders”) sold 8,500,000 shares of common stock in an underwritten public offering at an offering price of $14.00 per share, with all proceeds going to the Selling Stockholders. Subsequent to the secondary offering, the underwriters exercised their option to purchase an additional 1,275,000 shares of common stock, and the sale of such additional shares closed on August 22, 2022, with all proceeds going to the Selling Stockholders. ​ As a result of the IPO, secondary offering and the exercise of the underwriters’ option to purchase additional shares, the new investors in the Company own 36,609,100 shares of the common stock, or approximately 36.2% of the total 101,214,297 shares of common stock outstanding as of March 8, 2023.

Equity-Based Compensation

Equity-Based Compensation	12 Months Ended
	Dec. 31, 2022
Equity-Based Compensation.
Equity-Based Compensation	Note 16. Equity-Based Compensation ​ Pre-IPO Equity 2017 Equity Incentive Plan In 2017, the Sovos Brands Limited Partnership 2017 Equity Incentive Plan (“2017 Plan”), was established providing certain employees and nonemployees of the Company equity-based compensation in the form of Incentive Units (“IUs”) of the Limited Partnership, as consideration for services to the Company. The IUs, were deemed to be equity instruments subject to expense recognition under FASB ASC 718, Compensation — Stock Compensation. The estimate of fair value of the IUs granted was determined as of the grant date. The fair value of the IUs granted in 2019 and 2020 was estimated using a two-step process. First, the enterprise value of Sovos Brands Holdings, Inc. was established using two generally accepted valuation methodologies: discounted cash flow analysis and guideline comparable public company analysis. Second, the enterprise value was allocated among the securities that comprise the capital structure of Sovos Brands Holdings, Inc. using the Black-Scholes option-pricing model. The use of the Black-Scholes option-pricing model requires the Company to make estimates and assumptions, such as expected volatility, expected term and expected risk-free interest rate. Significant assumptions used to estimate the fair value of the Incentive Units were as follows, which were the same between service based and performance-based shares: ​ ​ ​ ​ ​ ​ ​ Fiscal Year Ended ​ ​ December 25, 2021 ​ December 26, 2020 Expected term 1.5 to 3.5 yrs ​ 1.5 to 3.5 yrs Risk-free rate of return ​ 1.61% ​ 1.61% Applied volatility ​ 20% ​ 20% ​ The expected term represents management’s estimate of time to an exit event. The risk-free rate of return is based upon the US Treasury yield through time to liquidity. Applied volatility is based on the volatility of a sample of publicly traded companies in markets similar to Sovos Brands Holdings, Inc. The fair value of the IUs granted in 2021 was estimated using the Probability Weighted Expected Return Method (“PWERM”), which is a forward-looking approach that was considered to be appropriate when expected future liquidity events, such as an IPO, are reasonably certain. The PWERM analysis considered three potential liquidation time horizons, ranging from current value to three years and assigned a 33.3% probability to each scenario. The valuation of the total company enterprise and equity values was calculated for each of the three scenarios, and then applied a weighted average calculation. The IUs’ activity for the fiscal year ended December 25, 2021 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Service Based ​ Performance Based ​ ​ Weighted Average ​ Weighted Average ​ ​ Incentive ​ Grant Date ​ Incentive ​ Grant Date ​ ​ Units ​ Fair Value ​ Units ​ Fair Value Outstanding at December 26, 2020 ​ 34,659 ​ $ 245 ​ 46,000 ​ $ 15 Granted 1,231 ​ ​ 842 ​ 1,722 ​ ​ 8 Forfeited ​ (332) ​ ​ 407 ​ (908) ​ ​ 13 Distribution of common stock with respect to IUs (1) (35,558) ​ ​ 264 ​ (46,814) ​ ​ 14 Outstanding at December 25, 2021 — ​ $ — — ​ $ — Vested at December 25, 2021 ​ — ​ ​ — ​ — ​ ​ — (1) In connection with the IPO, the Limited Partnership distributed its shares of Sovos Brands, Inc. common stock to its limited partners, including holders of IUs, in accordance with the applicable terms of its partnership agreement. Distribution of Sovos Common Stock with respect to IUs Holders of IUs received shares of common stock and restricted common stock of Sovos Brands, Inc. in respect of their IUs. The common stock was distributed with respect to vested IUs and the restricted common stock was distributed with respect to nonvested IUs, with the vesting of such restricted common stock tracking the same vesting terms as the related nonvested IUs at the time of distribution. The distribution of Sovos common stock with respect to IUs was calculated based on a multi-step valuation which included a comparison of the fair value of the Company based on the pricing at the Company’s IPO to the fair value of the outstanding partnership units of the Limited Partnership, including the IUs granted under the 2017 Plan. The conversion was based on: ● a ratio that takes into account the number of IUs held, ● the application distribution threshold applicable to the IUs, and ● the value of distributions that the holder would have been entitled to receive had the Limited Partnership liquidated on the date of such replacement in accordance with the terms of the distribution “waterfall” set forth in the Partnership Agreement. ​ Restricted Common Stock The following table summarizes our restricted common stock activity during the fiscal years ended December 31, 2022 and December 25, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Service Based ​ Performance Based ​ ​ Weighted Average ​ Weighted Average ​ ​ Restricted ​ Grant Date ​ Restricted ​ Grant Date ​ ​ Common Stock ​ Fair Value ​ Common Stock ​ Fair Value Nonvested at December 26, 2020 ​ — ​ $ — ​ — ​ $ — Distribution of restricted common stock (1)(2) ​ 94,646 ​ ​ 12.00 ​ 3,319,291 ​ ​ 3.91 Granted — ​ ​ — ​ — ​ ​ — Vested ​ (18,558) ​ ​ 12.00 ​ (683,442) ​ ​ 7.86 Forfeited back to the Limited Partnership (3) ​ (3,847) ​ ​ 12.00 ​ (45,001) ​ ​ 2.89 Nonvested at December 25, 2021 72,241 ​ $ 12.00 2,590,848 ​ $ 5.25 Granted ​ — ​ ​ — ​ — ​ ​ — Vested ​ (63,548) ​ ​ 12.00 ​ (276,008) ​ ​ 13.29 Forfeited back to the Limited Partnership (3) ​ (1,229) ​ ​ 12.00 ​ (371,974) ​ ​ 4.98 Nonvested at December 31, 2022 ​ 7,464 ​ ​ 12.00 ​ 1,942,866 ​ ​ 4.15 Vested at December 31, 2022 791,012 ​ $ 12.00 959,450 ​ $ 9.42 (1) The service-based restricted common stock excludes 708,906 shares that vested prior to distribution. None of the performance-based restricted common stock vested prior to distribution. (2) The weighted average grant date fair value for the performance-based restricted common stock at distribution was based on the 2.0 x multiple of invested capital (“MOIC”) modification described below. A subsequent modification in November 2021 to the 4.0 x MOIC restricted common stock resulted in an increase in the weighted average grant date fair value for those shares to $15.15 per share. (3) S hares of restricted common stock that do not vest are not cancelled but instead remain outstanding and are forfeited back to the Limited Partnership. In connection with the IPO, a change in the vesting of the existing performance-based IUs and accordingly the related distributed restricted stock resulted in a modification to the grants and required the shares to be revalued as of the IPO date, resulting in a modified grant date fair value of approximately $13.0 million. The fair value of the performance-based restricted stock awards was calculated using a Monte Carlo simulation option pricing model estimates and assumptions, such as expected volatility, expected term and expected risk-free interest rate. Specifically, the model revalued the performance units based on the 2.0 2.0 2.0 On November 4, 2021, the Company and the Limited Partnership modified a portion of the existing equity-based compensation awards dated September 22, 2021 among the Company, Limited Partnership and the holders of such restricted stock. As a result of this modification, a portion of the shares that would have vested based upon a 4.0 The fair value of the modified performance-based restricted stock awards was calculated using a Monte Carlo simulation option pricing model estimates and assumptions, such as expected volatility, expected term and expected risk-free interest rate, resulting in a modified grant date fair value of approximately $6.1 million. As of December 31, 2022, 7,464 shares of restricted common stock resulting from the distribution of common stock with respect to nonvested time-based IUs vest upon fulfilling time-based service conditions and are scheduled to vest through 2024. As of December 31, 2022, of the remaining 1,942,866 shares of restricted common stock resulting from the distribution with respect to nonvested performance-based IUs, 169,698 shares will vest on the earlier of December 30, 2023 or when the original performance condition is achieved and the remaining 1,776,168 shares will vest only if certain performance conditions, including exceeding various MOIC levels, are achieved. The equity-based compensation expense prior to the IPO was considered to be a transaction with the Limited Partnership and was classified as a component within additional paid-in capital in the Company’s consolidated statements of changes in stockholder’s equity. Post-IPO Equity 2021 Equity Incentive Plan Effective September 21, 2021, the Company approved the 2021 Equity Incentive Plan (the “2021 Plan”) which reserves 9,739,244 shares of common stock. The 2021 Plan provides for the granting of stock options, stock appreciation rights, restricted stock awards, restricted stock units or equity-based awards to eligible employees, consultants and directors. Restricted Stock Units The Company has issued restricted stock units (“RSUs”) under the 2021 Plan. The following table summarizes our restricted stock unit activity during the fiscal years ended December 31, 2022 and December 25, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted Average ​ ​ Restricted Stock ​ Grant Date ​ ​ Units ​ Fair Value Outstanding at December 26, 2020 ​ — ​ $ — Granted ​ 967,158 ​ ​ 12.00 Vested ​ — ​ ​ — Forfeited ​ (39,936) ​ ​ 12.00 Outstanding at December 25, 2021 ​ 927,222 ​ ​ 12.00 Granted ​ 946,949 ​ ​ 14.06 Vested ​ (75,363) ​ ​ 12.07 Forfeited ​ (181,793) ​ ​ 12.48 Outstanding at December 31, 2022 ​ 1,617,015 ​ $ 13.15 Vested at December 31, 2022 ​ 75,363 ​ $ 12.07 ​ In connection with the IPO, and under the 2021 Plan, the Company granted 967,158 time-based RSUs to certain employees and independent directors. The RSUs include (i) 759,362 RSUs issued to certain employees with each award vesting 100% on the third anniversary of the grant date, subject in general to the applicable employee’s continued service through the vesting date, (ii) 191,130 RSUs issued to certain employees and independent directors with each award vesting in three equal annual installments, subject in general to the employee’s or director’s continued service through the vesting date, and (iii) 16,666 RSUs issued to certain of our independent directors that vest on the earlier of the first anniversary of the grant date and immediately prior to our first annual meeting of stockholders following the IPO, in each case subject in general to the applicable director’s continued service through the vesting date. During the fiscal year ended December 31, 2022, the Company granted 946,949 time-based RSUs to certain employees and independent directors. The RSUs include (i) 604,833 RSUs issued to employees with each award vesting in two equal annual installments, (ii) 314,306 RSUs issued to employees with each award vesting in three annual installments, and (iii) 27,810 RSUs issued to independent directors that vest on the earlier of the first anniversary of the grant date and immediately prior to our 2023 annual meeting of stockholders, all of which are subject in general to the employee’s and independent director’s continued service through the vesting date. Performance-based Restricted Stock Units The Company has issued performance-based restricted stock units (“PSUs”) under the 2021 Plan. The following table summarizes our performance-based restricted stock unit activity during the fiscal years ended December 31, 2022 and December 25, 2021: ​ ​ ​ ​ ​ ​ ​ ​ Performance-based Weighted Average ​ ​ Restricted Stock ​ Grant Date ​ ​ Units ​ Fair Value Outstanding at December 26, 2020 ​ — ​ $ — Granted ​ 687,690 ​ ​ 7.09 Vested ​ — ​ ​ — Forfeited ​ (5,728) ​ ​ 7.09 Outstanding at December 25, 2021 ​ 681,962 ​ ​ 7.09 Granted ​ 423,222 ​ ​ 15.63 Vested ​ — ​ ​ — Forfeited ​ (130,493) ​ ​ 8.58 Outstanding at December 31, 2022 ​ 974,691 ​ $ 10.60 Vested at December 31, 2022 ​ — ​ $ — ​ In connection with the IPO and under the 2021 Plan, the Company granted 687,690 PSUs to certain employees with each award vesting subject in general to the achievement of the performance condition and subject in general to the employee’s continued service through the vesting date. The fair value of the PSUs was estimated using a Monte Carlo simulation option pricing model, which requires the Company to make estimates and assumptions, such as expected volatility, expected term and expected risk-free interest rate. During the fiscal year ended December 31, 2022, the Company granted 343,800 PSUs to employees with each award vesting subject in general to the achievement of a performance condition that measures the total shareholder return (“TSR”) relative to the TSR of the constituents of a custom peer group (“relative TSR”). The number of shares that may be earned ranges from 0% to 200% with straight-line interpolation applied and subject in general to the employee’s continued service through the vesting date. During the fiscal year ended December 31, 2022, the Company also granted 79,422 PSUs to an employee subject in general to the achievement of the performance condition and subject to the employee’s continued service through the vesting date. The fair value of the PSUs granted during the fiscal year ended December 31, 2022 was estimated using a Monte Carlo simulation option pricing model, which requires the Company to make estimates and assumptions, such as expected volatility, expected term and expected risk-free interest rate. As of December 31, 2022, there was an aggregate of 7,072,175 shares of common stock available for future equity awards under the 2021 Plan. Equity-based Compensation Expense The Company grants equity-based compensation awards to certain employees, officers and non-employee directors as long-term incentive compensation and recognizes the related expense for these awards ratably over the applicable vesting period. Such expense is recognized as a selling, general and administrative expense in the Consolidated Statements of Operations. The following table summarizes the equity-based compensation expense recognized for the Company’s equity plans: ​ ​ ​ ​ ​ ​ ​ ​ ​ Fiscal Year Ended (In thousands) ​ December 31, 2022 ​ December 25, 2021 Equity awards under the 2017 Plan (Pre-IPO) ​ ​ RSAs ​ $ 1,103 ​ $ 1,750 PSAs ​ 6,677 ​ 6,688 Total equity-based compensation expense for the 2017 Plan ​ ​ 7,780 ​ ​ 8,438 Equity awards under the 2021 Plan (Post-IPO) ​ ​ ​ ​ ​ ​ RSUs ​ ​ 7,425 ​ ​ 982 PSUs ​ ​ 3,233 ​ ​ 404 Total equity-based compensation expense for the 2021 Plan ​ ​ 10,658 ​ ​ 1,386 Total equity-based compensation expense ​ $ 18,438 ​ $ 9,824 ​ The Company expects to record equity-based compensation expense of approximately $27.2 million through the fourth quarter of 2025 resulting from the issuance of the RSAs and PSAs under the 2017 Plan and RSUs and PSUs under the 2021 Plan. See Note 21. Subsequent Events

Employee Benefits

Employee Benefits	12 Months Ended
	Dec. 31, 2022
Employee Benefits
Employee Benefits	Note 17. Employee Benefits The Company sponsors a defined contribution plan. Company contributions to this defined contribution plan are based on employee contributions and compensation. The Company’s contributions to this plan for the fiscal years ended December 31, 2022, December 25, 2021 and December 26, 2020 were $1.8 million, $1.8 million and $1.4 million, respectively.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2022
Income Taxes
Income Taxes	Note Income tax (expense) benefit consists of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fiscal Year Ended (In thousands) ​ ​ December 31, 2022 ​ ​ December 25, 2021 ​ ​ December 26, 2020 Current: ​ ​ ​ ​ ​ Federal ​ $ — ​ $ (641) ​ $ — State ​ (933) ​ (791) ​ (1,928) Total current tax (expense) ​ (933) ​ (1,432) ​ (1,928) Deferred: ​ ​ ​ Federal ​ 10,229 ​ (3,414) ​ (805) State ​ 3,592 ​ 1,171 ​ (3,944) Total deferred tax (expense) benefit ​ 13,821 ​ (2,243) ​ (4,749) Income tax (expense) benefit ​ $ 12,888 ​ $ (3,675) ​ $ (6,677) ​ Total income tax (expense) benefit in fiscal 2022, 2021 and 2020 varies from the amounts computed by applying the federal statutory income tax rate of 21% to income (loss) before income taxes primarily due to the following items: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fiscal Year Ended ​ (In thousands) ​ ​ December 31, 2022 ​ ​ December 25, 2021 ​ ​ December 26, 2020 ​ United States statutory income tax (expense) benefit $ 13,931 21.0 % $ (1,175) 21.0 % $ (3,676) 21.0 % State tax (expense) benefit, net of federal tax ​ 966 1.5 ​ (910) 16.3 ​ ​ (781) ​ 4.5 ​ Transaction costs ​ — — ​ 312 (5.6) ​ ​ 2,763 ​ (15.8) ​ Equity-based compensation ​ (1,634) (2.5) ​ (1,772) 31.7 ​ ​ (406) ​ 2.3 ​ Nondeductible executive compensation ​ ​ (912) ​ (1.4) ​ ​ (625) ​ 11.2 ​ ​ — ​ — ​ Other permanent items ​ (597) (0.9) ​ (180) 3.2 ​ ​ (113) ​ 0.6 ​ Remeasurement of deferred tax balances ​ 1,150 1.7 ​ 993 (17.7) ​ ​ (3,388) ​ 19.4 ​ Unrecognized tax (expense) benefit ​ 5 — ​ 121 (2.2) ​ ​ (609) ​ 3.5 ​ Return to provision ​ (412) (0.6) ​ (236) 4.2 ​ ​ (81) ​ 0.5 ​ Deferred income tax adjustments ​ 164 0.2 ​ (200) 3.6 ​ ​ (450) ​ 2.6 ​ Research and development credit ​ 281 0.4 ​ — — ​ ​ — ​ — ​ Other, net ​ (54) (0.1) ​ (3) 0.1 ​ ​ 64 ​ (0.4) ​ Income tax (expense) benefit ​ $ 12,888 19.3 % $ (3,675) 65.8 % $ (6,677) ​ 38.2 % ​ Deferred tax assets and liabilities reflect the tax effect of temporary differences between the carrying value of assets and liabilities for financial reporting purposes and the tax basis of these assets and liabilities as measured by income tax law. The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities are presented below: ​ ​ ​ ​ ​ ​ ​ ​ ​ Fiscal Year Ended (In thousands) December 31, 2022 December 25, 2021 Deferred Tax Assets: ​ ​ Inventory ​ $ 1,148 ​ $ 1,506 Accrued compensation ​ 3,739 ​ 1,832 Bad debt allowance ​ 187 ​ 164 Net operating loss ​ 4,035 ​ 3,065 Contribution carryover ​ 221 ​ — Interest limitation ​ 9,395 ​ 3,493 Research and development credit ​ 281 ​ — Equity-based compensation ​ 1,555 ​ 229 Lease liability ​ 5,689 ​ 6,585 Other ​ 766 ​ 231 Total deferred tax assets ​ 27,016 ​ 17,105 Deferred Tax Liabilities: ​ ​ Property and equipment ​ (8,489) ​ (6,536) Intangible assets ​ (76,671) ​ (81,860) Prepaid expenses ​ (100) ​ (131) Right-of-use asset ​ ​ (4,677) ​ ​ (5,406) Interest rate hedge ​ ​ (489) ​ ​ — Other ​ (234) ​ (148) Total deferred tax liabilities ​ (90,660) ​ (94,081) Net deferred tax liabilities ​ $ (63,644) ​ $ (76,976) ​ A valuation allowance is recorded when it is more likely than not that some portion of the deferred tax assets will not be realized. As of each reporting date, the Company’s management considers all evidence, both positive and negative, that could impact management’s view with regards to future realization of deferred tax assets. As of December 31, 2022, no valuation for deferred tax assets was recorded as management believes it is more likely than not that all the deferred tax assets will be realized. At December 31, 2022, the Company has a net operating loss (“NOL”) carryforward for federal tax purposes of approximately $14.1 million and $25.9 million for state tax purposes. Additionally, the Company has a research and development (“R&D”) tax credit for federal purposes of $0.3 million. The following table summarizes the NOL and R&D tax credit carryforwards by jurisdiction: ​ ​ ​ ​ ​ ​ (In thousands) Expiration Period December 31, 2022 Federal NOL None ​ $ 14,147 State NOL 2031‑2042 ​ 14,598 State NOL ​ None ​ ​ 11,327 Federal R&D 2042 ​ 281 ​ The Internal Revenue Code limits the use of net operating losses, Unrecognized tax benefits represent the aggregate tax effect of differences between the tax return positions and the amounts otherwise recognized in the Company’s consolidated financial statements and are reflected in accrued expenses and other long-term liabilities in the Company’s Consolidated Balance Sheets. The Company accounts for uncertain tax positions by recognizing the financial statement effects of a tax provision only when based upon the technical merits, it is “more-likely-than-not” that the tax position will be sustained upon examination. The following table summarizes the Company's unrecognized tax benefits: ​ ​ ​ ​ (In thousands) ​ Balance at December 25, 2021 ​ $ 355 Gross increases related to prior period tax position ​ 48 Gross increases related to current period tax position ​ — Gross decreases related to prior period tax position ​ (88) Balance at December 31, 2022 ​ $ 315 ​ Included in the balance of unrecognized tax benefits at December 31, 2022, are potential benefits of $0.3 million that if recognized would affect the effective tax rate on income from continuing operations. The Company recognizes interest and penalties with respect to unrecognized tax benefits as a component of income tax (expense) benefit. The amount of accrued interest and penalties related to unrecognized tax benefits for the fiscal years ended December 31, 2022 and December 25, 2021 was $0.2 million and $0.1 million, respectively. None of the Company’s unrecognized tax benefits were recognized by the end of 2022, as a result of settlement with the taxing authorities. The Company is generally subject to potential federal and state examinations for the tax years on and after December 31, 2014 for federal purposes and December 31, 2015 for state purposes.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2022
Related Party Transactions
Related Party Transactions	Note 19. Related Party Transactions The Company has two related party leases for a manufacturing facility and land. The facility and land are leased from Morning Fresh Dairy (“Morning Fresh”), a related party entity owned and controlled by a board member of the Company. The facility lease and land lease are classified as a finance lease and operating lease, respectively, based on the original lease term and reasonably certain renewal options. As of December 31, 2022, the facility has a lease liability balance of $6.8 million which is primarily recognized as long-term debt in our Consolidated Balance Sheets. As of December 31, 2022, the land lease has a liability balance of $0.5 million which is primarily recognized as long-term operating lease liabilities in our Consolidated Balance Sheets. The facility lease and land lease contained payments of approximately $0.6 million, $0.5 million and $0.5 million for the fiscal years ended December 31, 2022, December 25, 2021 and December 26, 2020, respectively. In addition, $0.2 million, $0.2 million and $0.2 million was paid for the fiscal years ended December 31, 2022, December 25, 2021 and December 26, 2020, respectively, for a proportionate share of utilities, taxes and insurance. Morning Fresh regularly purchases finished goods inventory from the Company for sale to its customers. Additionally, Morning Fresh regularly supplies milk used in the Company’s manufacturing process. Sales to and purchases from Morning Fresh were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fiscal Year Ended (In thousands) ​ December 31, 2022 ​ December 25, 2021 ​ December 26, 2020 Sales ​ $ 528 ​ $ 471 ​ $ 439 Purchases ​ $ 9,041 ​ $ 5,443 ​ $ 4,945 ​ Amounts outstanding in respect to Morning Fresh transactions were as follows: ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) December 31, 2022 December 25, 2021 Receivables ​ $ 29 ​ $ 26 Payables ​ $ 870 ​ $ 354 ​ The Company has a milk supply agreement with Morning Fresh for a base term ending December 31, 2027, with the option available for extension for a total of fifteen additional 2-year periods to December 31, 2057. Four years’ advance written notice is required to terminate the agreement. Milk will be priced on a month-to-month basis by USDA Central Federal Order No. 32 for Class II milk, plus surcharges and premiums, provided that the final price of the milk shall be 23.24 cents per hundred weight less than the published Dairy Farmers of America bill for that month. The Company will accept up to 3,650,000 gallons as determined by Morning Fresh in 2020, and for each year of the term thereafter. As of December 31, 2022, the Company has future commitments to purchase approximately $39.9 million of milk from Morning Fresh, approximated at current market price. In addition, the Company has agreed to pay an additional $33 thousand monthly through December 31, 2027 to cover the landowner’s incremental costs relating to capital improvements necessary to support increased milk production required by the Company over the term of this agreement. If the agreement is terminated before December 1, 2027, the Company will be required to pay an early termination penalty, which declines from $3.0 million at the inception of the agreement to $0 over the ten-year term, based on an amortization table outlined in the agreement. As of December 31, 2022, the estimated annual minimum purchase commitments with Morning Fresh are as follows: ​ ​ ​ ​ Fiscal Year Ending (In thousands) 2023 ​ $ 8,375 2024 ​ ​ 8,375 2025 ​ ​ 8,375 2026 ​ ​ 8,375 2027 ​ ​ 8,375 Thereafter ​ ​ — Total ​ $ 41,875 ​ In January 2019, the Company entered into an agreement with a stockholder, to sell and issue 5,217 Class A units in exchange for a $6 million stockholder note receivable, which was recorded within stockholders’ equity. In accordance with the agreement, interest on the note accrued and compounded quarterly at a rate equal to the long-term applicable federal rate per annum on date of issuance on the unpaid principal amount of the note. The federal rate used on the date of issuance was the January 2019 long-term applicable federal rates for purposes of IRC 1274(d), which was 3.12%. On February 26, 2021, the stockholder note receivable plus accrued and unpaid interest was paid in full in the amount of $6.4 million. Advent International Corporation (“Advent”) is a private equity firm which has funds invested in our common stock. Although no individual fund owns a controlling interest in us, together the funds represent our current majority owners. Advent and its affiliates have ownership interests in a broad range of companies. We have entered and may in the future enter into commercial transactions in the ordinary course of our business with some of these companies, including the sale of goods and services and the purchase of goods and services. For the fiscal year ended December 26, 2020, the Company paid to the Limited Partnership $35 thousand for the repurchase of Class A units and IUs. There were no repurchases of Class A units or IUs in the fiscal year ended December 25, 2021. At the time of the Company’s IPO, holders of Class A units and IUs received shares of common stock and restricted common stock of Sovos Brands, Inc. in respect of their Class A units or IUs. See Note 16. Equity-Based Compensation for additional information. The Company pays legal expenses on behalf of the Limited Partnership and carries a balance within each of accounts receivables and other long-term assets that reflects the amount due from the Limited Partnership. As of December 31, 2022 and December 25, 2021, the receivable balance was $0.1 million and $0.4 million, respectively.

Earnings (Loss) Per Share

Earnings (Loss) Per Share	12 Months Ended
	Dec. 31, 2022
Earnings (Loss) Per Share
Earnings (Loss) Per Share	Note 20. Earnings (Loss) Per Share Basic earnings (loss) per share (“EPS”) is calculated by dividing net income (loss) for the period by the weighted-average number of common shares outstanding for the period without consideration of potential common shares. Diluted EPS is calculated using the weighted average number of common shares outstanding including the dilutive effect of equity awards as determined under the treasury stock method. In periods when the Company has a net loss, equity awards are excluded from the calculation of diluted EPS as their inclusion would have an anti-dilutive effect. The following table presents the computation of EPS: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fiscal Year Ended (In thousands, except share and per share amounts) December 31, 2022 December 25, 2021 December 26, 2020 Net income (loss) ​ $ (53,451) ​ $ 1,919 ​ $ 10,825 ​ ​ ​ ​ ​ ​ Weighted average basic common shares outstanding ​ ​ 100,917,978 ​ ​ 80,616,326 ​ ​ 74,058,569 Effect of dilutive securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ Restricted stock units ​ — ​ — ​ 1,862,496 Performance stock units ​ ​ — ​ ​ — ​ ​ — Total ​ ​ — ​ ​ — ​ ​ 1,862,496 Weighted average and potential dilutive common shares outstanding ​ ​ 100,917,978 ​ ​ 80,616,326 ​ ​ 75,921,065 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Earnings (loss) per share ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic ​ $ (0.53) ​ $ 0.02 ​ $ 0.15 Diluted ​ $ (0.53) ​ $ 0.02 ​ $ 0.14 ​ The following table presents the common stock shares equivalent excluded from the calculation of diluted EPS: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fiscal Year Ended ​ December 31, 2022 December 25, 2021 ​ December 26, 2020 Restricted stock units ​ ​ 49,309 ​ ​ 927,222 ​ ​ — Performance stock units ​ ​ — ​ ​ — ​ ​ — Total anti-dilutive shares ​ ​ 49,309 ​ ​ 927,222 ​ ​ — ​

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2022
Subsequent Events
Subsequent Events	Note 21. Subsequent Events ​ The Company ​ Equity-Based Compensation In February 2023, the compensation committee of the Company’s board of directors (“compensation committee”) modified a portion of the existing equity-based compensation awards (restricted stock) dated September 22, 2021, among the Company, the Limited Partnership and the holders of the restricted stock. As a result of these modifications, a portion of the shares that would have vested based upon either a 3.0 4.0 ​ Foreign Currency Hedge ​ In February 2023, the Company entered into a foreign currency hedge with a total notional amount of $191.4 million, to offset the earnings impact of foreign currency exchange rates through the end of fiscal 2023.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2022
Summary of Significant Accounting Policies
Reclassification	Reclassification Equity-Based Compensation
Use of Estimates	Use of Estimates as it relates to variable consideration, acquisition accounting fair value allocations, the recoverability of goodwill, other intangible assets, property and equipment, deferred tax assets, inventory valuation, equity-based compensation, and the determination of the useful life of customer relationship and finite-lived trademark intangible assets. Management bases its estimates on historical experience, current conditions and various other assumptions that it believes to be reasonable under the circumstances. These estimates form the basis for making judgments about the carrying values of assets and liabilities and are not readily apparent from other sources. Actual results may differ from these estimates.
Cash and Cash Equivalents	Cash and Cash Equivalents
Accounts Receivable, Net and Credit Losses	Accounts Receivable, Net and Credit Losses The allowance for doubtful accounts was approximately $0.8 million and $0.7 million as of December 31, 2022 and December 25, 2021, respectively. Charges related to credit loss on accounts receivables were approximately $6.0 thousand, $0.2 million and $0.2 million for the fiscal years ended December 31, 2022, December 25, 2021 and December 26, 2020, respectively. In addition, in December 2021, the Company entered into an agreement with one of its suppliers, in which the remaining $5.0 million of the original $10.0 million 2016 capital advance balance, scheduled to be repaid by December 31, 2023, was forgiven and treated as if it were repaid in full. Upon execution of the December 2021 agreement, the Company recorded a credit loss of $5.0 million within operating expenses in the Consolidated Statements of Operations and the balance previously reported within other long-term assets in the Consolidated Balance Sheets was eliminated.
Deferred Offering Costs	Deferred Offering Costs— Upon the closing of its initial public offering (“IPO”) in September 2021, the Company had incurred $7.6 million of capitalized deferred offering costs consisting of legal, accounting, consulting, listing and filing fees, which were netted against the IPO proceeds. There were no capitalized deferred offering costs as of December 31, 2022 and December 25, 2021.
Inventories	Inventories
Property and Equipment	Property and Equipment ​ ​ ​ Furniture and Fixtures 1-7 years Leasehold Improvements Lesser of useful life or remaining lease term Machinery and Equipment 7-12 years Computer Equipment 3-5 years Software 3 years Capital Leases Based on lease terms ​ Repairs and maintenance costs are expensed as incurred. Major improvements that extend the life or increase the capacity of property owned are capitalized. Major improvements to leased buildings are capitalized as leasehold improvements.
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets
Goodwill	Goodwill Birch Benders Goodwill
Intangible Assets	Intangible Assets ​ Customer Relationships 10-20 years Tradename 20-25 years ​ Intangible assets with definite useful lives are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amounts may not be recoverable. If impairment indicators are present, the Company performs a recoverability test, and if it is determined the carrying amount of the asset is not recoverable and its carrying amount exceeds its fair value, then an impairment loss is recognized. There were no impairments of definite lived intangible assets in 2022, 2021 or 2020. See Note 8. Intangible Assets, Net The Rao’s Indefinite-lived intangible assets are tested for impairment by either performing a qualitative evaluation or a quantitative test. The qualitative assessment evaluates factors including macro-economic conditions, industry and company-specific factors, and historical company performance in assessing fair value. If it is determined that it is more likely than not that the fair value of the asset is less than the carrying value, a quantitative test is performed. Otherwise, no further testing is required. If it is determined that it is more likely than not that the fair value of the asset is less than the carrying value, impairment is evaluated by comparing the fair value of the asset with its carrying value, and a loss is recognized for the difference if the fair value exceeds the carrying value. When estimating the fair value, the Company uses certain assumptions, such as forecasted growth rates and cost of capital. These assumptions are consistent with our internal projections and operating plans. Unanticipated market or macroeconomic events and circumstances may occur, which could affect the accuracy or validity of the estimates and assumptions. For example, future changes in the judgments, assumptions and estimates that are used in our tradename impairment testing could result in significantly different estimates of the fair values. In addition, changes to, or a failure to achieve business plans or deterioration of macroeconomic conditions could result in reduced cash flows or higher discount rates, leading to a lower valuation that would trigger an impairment of the tradename. There were no impairments of indefinite lived intangible assets in 2022, 2021 or 2020. See Note 8. Intangible Assets, Net
Leasing Arrangements	Leasing Arrangements Leases The Company uses the implicit rate in the lease, if available, for calculating the present value of the lease payments. If the implicit rate is not readily determinable, the Company will use the applicable incremental borrowing rate in calculating the present value of the sum of the lease payments. The incremental borrowing rate represents an estimate of the interest rate the Company would incur at lease commencement to borrow an amount equal to the lease payments on a collateralized basis over the term of a lease. The Company evaluates renewal options at lease inception and on an ongoing basis and includes renewal options that it is reasonably certain to exercise in its expected lease terms when classifying leases and measuring lease liabilities. Some leases also include early termination options, which can be exercised under specific conditions. Additionally, certain leases contain incentives, such as construction allowances from landlords. These incentives reduce the right-of-use asset related to the lease. The Company recognizes expense for operating leases on a straight-line basis over the lease term. The Company recognizes interest expense and depreciation expense for finance leases. Depreciation expense for assets held under finance leases are computed using the straight-line method over the lease term or useful life for leases that contain a transfer of title or reasonably certain purchase option. The Company elected to combine lease and non-lease components for all asset classes. The Company’s lease agreements may contain variable lease payments for increases in rental payment as a result of indexation and variable storage and shipping utilization, common area maintenance, property tax, and utility charges, which are excluded from the measurement of its right-of-use assets and lease liabilities and are recognized as variable payments in the period in which the obligation for those payments is incurred. The Company’s real estate leases include base rent escalation clauses. The majority of these are based on the change in a local consumer price or similar inflation index. Payments that may vary based on an index or rate are included in the measurement of our right-of-use assets and lease liabilities at the rate as of the commencement date with any subsequent changes to those payments being recognized as variable payments in the period in which they occur. The Company does not have significant residual value guarantees or restrictive covenants in the lease portfolio. See Note 11. Leases
Debt Issuance Costs	Debt Issuance Costs During 2021, the Company wrote off debt issuance costs of approximately $15.4 million in conjunction with the repayment of the outstanding 2018 Term Loan, Incremental Term Loan, and Initial Second Lien Facility, and partial prepayment of the Initial First Lien Term Loan Facility. During 2022 and 2020, there were no debt issuance costs written off. See Note 10. Long-Term Debt
Comprehensive Income	Comprehensive Income
Hedging and Derivative Financial Instruments	Hedging and Derivative Financial Instruments — ​ The Financial Accounting Standards Board (“FASB”) issued Accounting Standards Codification (“ASC”) 815, Derivatives and Hedging ​ Derivative instruments are recorded at fair value in the Consolidated Balance Sheets and are classified based on the contractual maturity of the instrument or the timing of the underlying cash flows. The fair value of derivative instruments is reflected in prepaid expenses and other current assets, other long-term assets or accrued expenses. On the Consolidated Statements of Cash Flows, cash flows associated with derivative instruments are classified according to the nature of the underlying hedged item. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative, whether the Company has elected to designate a derivative in a hedging relationship, whether the Company has elected to apply hedge accounting and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. Derivatives designated and qualifying as a hedge that are exposed to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges. Hedge accounting generally provides for the matching of the timing of gain or loss recognition on the hedging instrument with the recognition of the changes in the earnings effect of the hedged forecasted transactions in a cash flow hedge. Changes in fair value of the cash flow hedges are recognized in the Consolidated Statements of Comprehensive Income in OCI. The Company may enter into derivative contracts that are intended to economically hedge certain of its risks, even though hedge accounting does not apply or the Company elects not to apply hedge accounting. Derivative instruments that have not been designated in an effective hedging relationship are considered economic hedges, and their change in fair value is recognized in the Consolidated Statements of Operations in selling, general and administrative expense. In accordance with the FASB’s fair value measurement guidance, the Company made an accounting policy election to measure the credit risk of its derivative financial instruments that are subject to master netting agreements on a net basis by counterparty portfolio. ​ See Note 14. Hedging and Derivative Financial Instruments
Dividends	Dividends— Stockholders’ Equity
Revenue Recognition	Revenue Recognition entrées The Company accounts for revenue in accordance with ASC 606, Revenue from Contracts with Customers The Company assesses the goods promised in its customers’ purchase orders and identifies a performance obligation for each promise to transfer a good (or bundle of goods) that is distinct. To identify the performance obligations, the Company considers all the goods promised, whether explicitly stated or implied based on customary business practices. Sales to customers generally do not include more than one performance obligation. When a contract does contain more than one performance obligation, the contract’s transaction price is allocated to each performance obligation based on its relative standalone selling price. The standalone selling price for each distinct good is generally determined by list price. Revenue is reported net of applicable discounts and allowances. Trade promotions are recorded as a reduction to net sales with a corresponding reduction to accounts receivable at the time of revenue recognition for the underlying sale. The recognition of trade promotions requires management to make estimates regarding the volume of incentive that will be redeemed and their total cost. Customers may deduct from future payments for defective or non-conforming products. As a result, a related refund liability is estimated and recorded as a reduction in sales. This return estimate is reviewed and updated each period and is based on historical sales and return experience. The Company has identified certain incremental costs to obtain a contract, primarily sales and broker commissions. The Company continues to expense these costs as incurred because the amortization period for the costs would be one year or less. The Company does not incur significant fulfillment costs requiring capitalization. The Company has elected the following practical expedients in accordance with ASC 606. ● Significant financing component – The Company has elected to not adjust the promised amount of consideration for the effects of significant financing components as the Company expects, at contract inception, that the period between the transfer of a promised good to a customer and when the customer pays for that good will be one year or less. ● Measurement of transaction price – The Company has elected to exclude from the measurement of transaction price all taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction and collected by the Company from a customer for sales taxes. ● Shipping and handling costs – The Company includes shipping and handling costs associated with outbound freight within cost of sales. These costs are accounted for as fulfillment costs as they are incurred.
Advertising and Marketing	Advertising and Marketing
Research and Development	Research and Development
Equity-Based Compensation	Equity-Based Compensation The Company determined the fair value of the Incentive Units as of the grant date and recognizes the compensation expense on a straight-line basis over the requisite service period, which is generally the vesting period of the Incentive Units. Certain Incentive Units have market and performance vesting conditions depending upon a change-in-control and achievement of certain metrics. The related compensation expense is recognized when the probability of the event is likely and performance criteria are met. In connection with the IPO, the Limited Partnership distributed its shares of Sovos Brands, Inc. common stock to its limited partners, including holders of IUs, in accordance with the applicable terms of its partnership agreement. Holders of IUs received shares of common stock and restricted common stock of Sovos Brands, Inc. in respect of their IUs. In connection with the IPO, a change in vesting of the original performance-based IUs, and accordingly the related distributed restricted stock, was considered to be a modification to the grants and required the shares to be revalued using a Monte Carlo simulation model. Equity-based compensation expense is recognized for these awards on a straight-line basis over the service period, regardless of the eventual number of shares that are earned based upon the performance condition. Subsequent to the IPO, The fair value of the modified performance-based restricted stock awards was calculated using a Monte Carlo simulation option pricing model. Equity-Based Compensation Subsequent to the IPO, employees and certain nonemployees of the Company have received, and may in the future receive, equity-based compensation in the form of restricted stock units with service-based vesting conditions, using the fair market value of the Company’s common stock to measure fair value and in the form of restricted stock units with performance-based vesting conditions using a Monte Carlo simulation model to determine the grant-date fair value. Equity-based compensation expense is recognized on a straight-line basis over the requisite service period of the award based on their grant-date fair value. The Company recognizes forfeitures as they occur.
Income Taxes	Income Taxes Certain judgments, estimates, and assumptions could affect the carrying value of deferred tax assets and valuation allowances, if any, and deferred tax liabilities in the Company’s consolidated financial statements. We recognize deferred tax assets to the extent that we believe that these assets are more likely than not to be realized. In making such a determination, we consider all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax-planning strategies, and results of recent operations. If we determine that we would be able to realize our deferred tax assets in the future in excess of their net recorded amount, we would make an adjustment to the deferred tax asset valuation allowance, which would reduce the provision for income taxes. The Company accounts for uncertain tax positions in accordance with the provisions of ASC 740, Income Taxes
Concentrations of Credit Risk	Concentrations of Credit Risk— Credit risk for the Company was concentrated in three customers who each comprised more than 10% of the Company’s total sales for the fiscal years ended December 31, 2022, December 25, 2021 and December 26, 2020. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fiscal Year Ended ​ ​ December 31, 2022 ​ December 25, 2021 ​ December 26, 2020 Costco Wholesale Corporation ​ 17% ​ 18% ​ 16% Walmart Inc. ​ 13% ​ 13% ​ 13% United Natural Foods, Inc. ​ 10% ​ 11% ​ N/A KeHE Distributors ​ N/A ​ N/A ​ 11% N/A – Not applicable as the customer was not significant during these fiscal years. At December 31, 2022 and December 25, 2021, the following percentages of the Company’s accounts receivable, net were related to these significant customers for the periods in which the customers were significant: ​ ​ ​ ​ ​ ​ ​ ​ Fiscal Year Ended ​ ​ December 31, 2022 ​ December 25, 2021 Costco Wholesale Corporation ​ 32% ​ 14% Walmart Inc. ​ 15% ​ 15% United Natural Foods, Inc. ​ N/A ​ N/A ____________ N/A – Not applicable as the customer was not significant during these fiscal years. No other customers individually had greater than 10% of total gross sales during these periods. The Company believes that there is no significant or unusual credit exposure at this time.
Concentrations of Vendor Risk	Concentrations of Vendor Risk ​
New Accounting Pronouncements and Policies	New Accounting Pronouncements and Policies Recently Issued Accounting Pronouncements Not Yet Adopted In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting. Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848 ​ In March 2022, the FASB issued ASU No. 2022-02, Financial Instruments-Credit Losses (Topic 326) Troubled Debt Restructurings and Vintage Disclosures fiscal years. The amendments of ASU 2022-02 require that an entity disclose current-period gross write-offs by year of origination for financing receivables and net investments in leases. The Company expects the impact of this amendment to be administrative and does not anticipate any material impact to the consolidated financial statements. ​ No other new accounting pronouncement issued or effective during the fiscal year had or is expected to have a material impact on the Company’s consolidated financial statements.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2022
Summary of Significant Accounting Policies
Schedule of estimated useful lives of property and equipment	​ ​ ​ Furniture and Fixtures 1-7 years Leasehold Improvements Lesser of useful life or remaining lease term Machinery and Equipment 7-12 years Computer Equipment 3-5 years Software 3 years Capital Leases Based on lease terms ​
Schedule of estimated useful lives of finite lived intangible assets	​ Customer Relationships 10-20 years Tradename 20-25 years
Schedule of concentration of risk	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fiscal Year Ended ​ ​ December 31, 2022 ​ December 25, 2021 ​ December 26, 2020 Costco Wholesale Corporation ​ 17% ​ 18% ​ 16% Walmart Inc. ​ 13% ​ 13% ​ 13% United Natural Foods, Inc. ​ 10% ​ 11% ​ N/A KeHE Distributors ​ N/A ​ N/A ​ 11% N/A – Not applicable as the customer was not significant during these fiscal years. ​ ​ ​ ​ ​ ​ ​ ​ Fiscal Year Ended ​ ​ December 31, 2022 ​ December 25, 2021 Costco Wholesale Corporation ​ 32% ​ 14% Walmart Inc. ​ 15% ​ 15% United Natural Foods, Inc. ​ N/A ​ N/A ____________ N/A – Not applicable as the customer was not significant during these fiscal years.

Loss on Asset Sale (Tables)

Loss on Asset Sale (Tables)	12 Months Ended
	Dec. 31, 2022
Loss on Asset Sale
Schedule of pre-tax loss on the sale of assets	For the fiscal year ended December 31, 2022, the Company recognized a pre-tax loss on the sale of Birch Benders ​ ​ ​ ​ (In thousands) ​ ​ ​ Cash received ​ $ 40,000 Assets sold: ​ ​ Inventory ​ (5,424) Intangible assets, net ​ ​ (85,867) Total assets sold ​ (91,291) Loss on asset sale ​ $ (51,291) ​

Revenue Recognition (Tables)

Revenue Recognition (Tables)	12 Months Ended
	Dec. 31, 2022
Revenue Recognition
Schedule of revenue disaggregated	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fiscal Year Ended (In thousands) December 31, 2022 December 25, 2021 ​ December 26, 2020 Rao’s ​ $ 580,088 ​ $ 419,966 ​ $ 313,618 Noosa ​ 176,166 ​ 163,476 ​ ​ 153,492 Michael Angelo’s ​ 80,925 ​ 79,414 ​ ​ 83,896 Birch Benders ​ 41,192 ​ 56,330 ​ ​ 9,061 Total net sales ​ $ 878,371 ​ $ 719,186 ​ $ 560,067

Inventories, Net (Tables)

Inventories, Net (Tables)	12 Months Ended
	Dec. 31, 2022
Inventories, Net
Schedule of inventories	​ ​ ​ ​ ​ ​ ​ ​ (In thousands) December 31, 2022 December 25, 2021 Finished goods ​ $ 76,404 ​ $ 38,715 Raw materials and packaging supplies ​ 16,198 ​ 12,900 Total inventories, net ​ $ 92,602 ​ $ 51,615

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	12 Months Ended
	Dec. 31, 2022
Property and Equipment, Net
Schedule of property and equipment	​ ​ ​ ​ ​ ​ ​ ​ (In thousands) December 31, 2022 December 25, 2021 Machinery & equipment ​ $ 63,077 ​ $ 45,329 Leasehold improvements ​ 40,288 ​ 39,296 Construction in progress ​ 6,384 ​ 12,074 Furniture & fixtures ​ 1,605 ​ 2,119 Other ​ 1,415 ​ 1,649 Gross property and equipment ​ 112,769 ​ 100,467 Less: Accumulated depreciation and amortization ​ 48,452 ​ 37,796 Property and equipment, net ​ $ 64,317 ​ $ 62,671 ​

Goodwill (Tables)

Goodwill (Tables)	12 Months Ended
	Dec. 31, 2022
Goodwill.
Schedule of Goodwill	​ ​ ​ ​ ​ (In thousands) ​ Goodwill Balance as of December 26, 2020 $ 437,290 Purchase accounting adjustments ​ 161 Balance as of December 25, 2021 ​ $ 437,451 Impairment ​ (42,052) Balance as of December 31, 2022 ​ $ 395,399 ​

Intangible Assets, Net (Tables)

Intangible Assets, Net (Tables)	12 Months Ended
	Dec. 31, 2022
Intangible Assets, Net
Schedule of intangible assets net	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 ​ ​ Gross carrying ​ Accumulated ​ Sale of ​ Net carrying (In thousands) ​ amount ​ amortization ​ intangible assets ​ amount Intangible assets - definite lives ​ ​ ​ ​ ​ Customer relationships ​ $ 213,000 ​ $ 89,201 ​ $ 5,082 ​ $ 118,717 Tradename ​ 192,347 ​ 31,732 ​ 80,785 ​ 79,830 ​ ​ ​ 405,347 ​ ​ 120,933 ​ ​ 85,867 ​ ​ 198,547 Intangible assets - indefinite lives ​ ​ ​ ​ ​ Tradename ​ ​ 153,000 ​ ​ — ​ ​ — ​ ​ 153,000 Total intangible assets ​ $ 558,347 ​ $ 120,933 ​ $ 85,867 ​ $ 351,547 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 25, 2021 ​ ​ Gross carrying ​ Accumulated ​ Net carrying (In thousands) amount amortization amount Intangible assets - definite lives ​ ​ ​ ​ ​ ​ Customer relationships ​ $ 213,000 ​ $ 71,330 ​ $ 141,670 Tradename ​ 192,347 ​ 22,362 ​ 169,985 ​ ​ ​ 405,347 ​ ​ 93,692 ​ ​ 311,655 Intangible assets - indefinite lives ​ ​ ​ ​ ​ ​ ​ ​ ​ Tradename ​ 153,000 ​ ​ — ​ ​ 153,000 Total intangible assets ​ $ 558,347 ​ $ 93,692 ​ $ 464,655 ​
Schedule of amortization expenses intangible assets net	​ ​ ​ ​ ​ (In thousands) Amortization 2023 ​ $ 22,425 2024 ​ 22,425 2025 ​ 22,425 2026 ​ 22,425 2027 ​ 17,782 Thereafter ​ 91,065 Total ​ $ 198,547

Accrued Expenses (Tables)

Accrued Expenses (Tables)	12 Months Ended
	Dec. 31, 2022
Accrued Expenses
Schedule of Accrued Expenses	​ ​ ​ ​ ​ ​ ​ ​ (In thousands) December 31, 2022 December 25, 2021 Accrued trade ​ $ 32,337 ​ $ 23,122 Accrued general expense ​ 17,911 ​ 15,327 Accrued compensation and benefits ​ 17,328 ​ 10,478 Accrued marketing ​ 1,995 ​ 2,830 Total accrued expenses ​ $ 69,571 ​ $ 51,757

Long-Term Debt (Tables)

Long-Term Debt (Tables)	12 Months Ended
	Dec. 31, 2022
Long-Term Debt
Schedule of Long-term debt	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 ​ ​ ​ ​ ​ Unamortized ​ ​ ​ ​ ​ ​ ​ ​ debt issuance ​ ​ ​ (In thousands) ​ Principal ​ costs ​ Total debt, net Initial First Lien Term Loan Facility $ 480,800 $ (5,374) $ 475,426 Finance lease liabilities ​ ​ 7,017 ​ ​ — ​ 7,017 Total debt ​ $ 487,817 ​ $ (5,374) ​ ​ 482,443 Less: current portion of finance lease liabilities ​ ​ ​ ​ ​ ​ ​ 99 Total long-term debt ​ ​ ​ ​ ​ $ 482,344 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 25, 2021 ​ ​ ​ ​ Unamortized ​ ​ ​ ​ ​ ​ ​ ​ debt issuance ​ ​ ​ (In thousands) ​ Principal ​ costs ​ Total debt, net Senior debt ​ $ 480,800 ​ $ (6,377) ​ $ 474,423 Finance lease liabilities ​ 7,095 ​ — ​ 7,095 Total debt ​ $ 487,895 ​ $ (6,377) ​ 481,518 Less: current portion of finance lease liabilities ​ ​ ​ ​ 98 Long-term debt ​ ​ ​ $ 481,420
Schedule of future minimum principal payments	​ ​ ​ ​ ​ Fiscal Year Ending (In thousands) 2023 ​ $ — 2024 ​ — 2025 ​ — 2026 ​ — 2027 ​ — Thereafter ​ ​ 480,800 Total ​ $ 480,800 ​

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2022
Leases
Schedule of components of lease expenses	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fiscal Year Ended (In thousands) ​ Statement of Operations Caption ​ December 31, 2022 ​ December 25, 2021 Operating lease cost: ​ ​ ​ Lease cost Cost of sales and Selling, general and administrative ​ $ 3,313 ​ $ 3,266 Variable lease cost (1) Cost of sales and Selling, general and administrative ​ 1,418 ​ 1,384 Total operating lease cost ​ ​ 4,731 ​ 4,650 ​ ​ ​ ​ ​ ​ ​ ​ ​ Short term lease cost Cost of sales and Selling, general and administrative ​ 240 ​ 222 ​ ​ ​ ​ ​ ​ ​ ​ ​ Finance lease cost: ​ ​ ​ ​ Amortization of right-of-use assets Cost of sales and Selling, general and administrative ​ 261 ​ 261 Interest on lease liabilities Interest expense, net ​ 530 ​ 532 Total finance lease cost ​ ​ 791 ​ 793 ​ ​ ​ ​ ​ ​ ​ ​ ​ Total lease cost ​ ​ ​ $ 5,762 ​ $ 5,665 ​ (1) Variable lease cost primarily consists of common area maintenance, utilities, taxes, and insurance.
Schedule of assets and liabilities related to both operating and finance leases	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ Balance Sheet Caption ​ December 31, 2022 ​ December 25, 2021 Assets ​ ​ Operating lease right-of-use assets Operating lease right-of-use assets ​ $ 13,332 ​ $ 15,672 Finance lease right-of-use assets Property and equipment, net ​ 6,038 ​ 6,299 Total lease assets ​ ​ $ 19,370 ​ $ 21,971 ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities ​ ​ Current: ​ ​ ​ ​ ​ ​ ​ ​ Operating lease liabilities ​ Current portion of long-term operating lease liabilities ​ $ 3,308 ​ $ 3,216 Finance lease liabilities ​ Current portion of long-term debt ​ ​ 99 ​ ​ 98 Long-term: ​ ​ ​ ​ ​ ​ ​ ​ Operating lease liabilities Long-term operating lease liabilities ​ 14,063 ​ 17,302 Finance lease liabilities Long-term debt, net of debt issuance costs ​ 6,918 ​ 6,997 Total lease liabilities ​ ​ $ 24,388 ​ $ 27,613 ​
Schedule of weighted-average remaining lease term and weighted-average discount rate for operating and finance leases	​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 December 25, 2021 Weighted-average remaining lease term (in years): ​ ​ ​ ​ ​ Operating leases ​ 6.4 ​ ​ 7.1 ​ Finance leases ​ 34.2 ​ ​ 34.8 ​ Weighted-average discount rate ​ ​ ​ ​ ​ ​ Operating leases ​ 4.9 % ​ 4.9 % Finance leases 7.8 % ​ 7.8 % ​
Schedule of Future minimum lease payments of operating leases	Future maturities of lease liabilities as of December 31, 2022 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) Operating Leases Finance Leases Fiscal year ending: ​ ​ 2023 ​ $ 4,062 ​ $ 609 2024 ​ 3,493 ​ 557 2025 ​ 2,982 ​ 549 2026 ​ 3,005 ​ 520 2027 ​ 3,064 ​ 525 Thereafter ​ 3,856 ​ 18,445 Total lease payments ​ 20,462 ​ 21,205 Less: Interest ​ (3,091) ​ (14,188) Present value of lease liabilities ​ $ 17,371 ​ $ 7,017 ​
Schedule of Future minimum lease payments of finance leases	​ ​ ​ ​ ​ ​ ​ ​ (In thousands) Operating Leases Finance Leases Fiscal year ending: ​ ​ 2023 ​ $ 4,062 ​ $ 609 2024 ​ 3,493 ​ 557 2025 ​ 2,982 ​ 549 2026 ​ 3,005 ​ 520 2027 ​ 3,064 ​ 525 Thereafter ​ 3,856 ​ 18,445 Total lease payments ​ 20,462 ​ 21,205 Less: Interest ​ (3,091) ​ (14,188) Present value of lease liabilities ​ $ 17,371 ​ $ 7,017 ​
Schedule of supplemental cash flow and other information related to leases	​ ​ ​ ​ ​ ​ ​ ​ ​ Fiscal Year Ended (In thousands) ​ December 31, 2022 ​ December 25, 2021 Cash paid for amounts included in the measurement of lease liabilities ​ ​ Operating cash flows from operating leases ​ $ 4,045 ​ $ 3,893 Operating cash flows from finance leases ​ 530 ​ 532 Financing cash flows from finance leases ​ ​ 78 ​ $ 66 Right-of-use assets obtained in exchange for new lease liabilities ​ ​ ​ ​ ​ ​ Finance leases ​ ​ — ​ ​ — Operating leases ​ ​ 78 ​ ​ 1,638

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2022
Commitments and Contingencies.
Schedule of estimated annual minimum purchase commitments with suppliers	​ ​ ​ ​ ​ Fiscal Year Ending (In thousands) 2023 ​ $ 3,500 2024 ​ 3,500 2025 ​ 2,375 2026 ​ — 2027 ​ — Thereafter ​ — Total ​ $ 9,375 ​

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2022
Fair Value of Financial Instruments
Schedule of assets and liabilities measured at fair value on a recurring basis	The table below presents the Company’s assets and liabilities measured at fair value on a recurring basis as of December 31, 2022, aggregated by the level in the fair value hierarchy within which those measurements fall. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements Using (In thousands) ​ ​ Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1) ​ Significant Other Observable Inputs (Level 2) ​ Significant Unobservable Inputs (Level 3) ​ Balance at December 31, 2022 Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivatives in cash flow hedging relationships ​ ​ $ — ​ $ 3,628 ​ $ — ​ $ 3,628 Total assets ​ ​ $ — ​ $ 3,628 ​ $ — ​ $ 3,628 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivatives not designated as hedging instruments ​ ​ $ — ​ $ 33 ​ $ — ​ $ 33 Total liabilities ​ ​ $ — ​ $ 33 ​ $ — ​ $ 33 ​

Hedging and Derivative Financ_2

Hedging and Derivative Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2022
Hedging and Derivative Financial Instruments
Schedule of fair values derivative instruments	The following table presents the fair values of the Company’s derivative instruments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 ​ December 25, 2021 (In thousands) ​ Location Derivative Assets Derivative Liabilities Derivative Assets Derivative Liabilities Derivatives not designated as hedging instruments under Subtopic 815-20 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency contracts (1) ​ Accrued expenses ​ $ — ​ $ 33 ​ $ — ​ $ — Total derivatives not designated as hedging instruments ​ ​ ​ $ — ​ $ 33 ​ $ — ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivatives designated as hedging instruments under Subtopic 815-20 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate caps - short term ​ Prepaid expenses and other current assets ​ $ 1,997 ​ $ — ​ $ — ​ $ — Interest rate caps - long term ​ Other long-term assets ​ ​ 1,631 ​ ​ — ​ ​ — ​ ​ — Total derivatives designated as hedging instruments ​ ​ ​ $ 3,628 ​ $ — ​ $ — ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total derivatives ​ ​ ​ $ 3,628 ​ $ 33 ​ $ — ​ $ — (1) Derivative instruments within this category are subject to master netting arrangements and are presented on a net basis in the Consolidated Balance Sheets in accordance with ASC 210, Balance Sheet, Subtopic 210-20. See tables below showing the effects of offsetting derivative assets and liabilities. ​
Schedule of pre-tax effect of cash flow hedge accounting on accumulated OCI	The following table presents the pre-tax effect of cash flow hedge accounting on accumulated OCI for the periods presented: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ Amount of Gain or (Loss) Recognized in OCI ​ ​ Fiscal Year Ended Derivatives in Subtopic 815-20 Hedging Relationships December 31, 2022 December 25, 2021 December 26, 2020 Derivatives in cash flow hedging relationships ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate caps ​ $ 2,150 ​ $ — ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income ​ ​ ​ Fiscal Year Ended Location of Gain or (Loss) Reclassified from Accumulated OCI into Income ​ December 31, 2022 December 25, 2021 December 26, 2020 Derivatives in cash flow hedging relationships ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest expense, net ​ $ 112 ​ $ — ​ $ — ​
Schedule of derivative financial instruments on Statements of Operations	The following table presents the effect of the Company’s derivative financial instruments on the Consolidated Statements of Operations for the periods presented: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gain (Loss) Recognized ​ ​ ​ ​ Fiscal Year Ended ​ ​ ​ ​ December 31, ​ December 25, ​ December 26, (In thousands) Statement of Operations Location 2022 2021 2020 Total amounts of expense presented in the Statements of Operations in which the derivatives not designated as hedging are recorded ​ Selling, general and administrative ​ $ 163,025 ​ $ 135,060 ​ $ 124,612 The effects of derivatives not designated as hedging instruments under Subtopic 815-20: ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency contracts ​ Selling, general and administrative ​ (33) ​ — ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ Total amounts of expense presented in the Statements of Operations in which the derivatives designated as hedging are recorded ​ Interest expense, net ​ 27,851 ​ 30,885 ​ 19,895 The effects of derivatives designated as hedging instruments under Subtopic 815-20: ​ ​ ​ ​ ​ ​ ​ ​ Interest rate caps ​ Interest expense, net ​ 112 ​ — ​ — ​
Schedule of net amounts of derivative assets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Offsetting of Derivative Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross Amounts Not Offset in the Balance Sheet ​ ​ ​ ​ Gross Amounts of Recognized Assets Gross Amounts Offset in the Balance Sheet Net Amounts of Assets Presented in the Balance Sheet ​ Financial Instruments Cash Collateral Posted Gross Amounts of Recognized Assets Derivatives ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency contracts ​ $ 56 ​ $ (56) ​ $ — ​ $ — ​ $ — ​ $ — Total derivatives, subject to a master netting arrangement ​ ​ 56 ​ ​ (56) ​ ​ — ​ ​ — ​ ​ — ​ ​ — Total derivatives, not subject to a master netting arrangement ​ ​ 3,628 ​ ​ — ​ ​ ​ ​ ​ — ​ ​ — ​ ​ 3,628 Total derivatives ​ $ 3,684 ​ $ (56) ​ $ ​ ​ $ — ​ $ — ​ $ 3,628 ​
Schedule of net amounts of derivative liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Offsetting of Derivative Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross Amounts Not Offset in the Balance Sheet ​ ​ ​ ​ Gross Amounts of Recognized Liabilities Gross Amounts Offset in the Balance Sheet Net Amounts of Liabilities Presented in the Balance Sheet ' Financial Instruments Cash Collateral Posted Net Amount Derivatives ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency contracts ​ $ (89) ​ $ 56 ​ $ (33) ​ $ — ​ $ — ​ $ (33) Total derivatives, subject to a master netting arrangement ​ ​ (89) ​ ​ 56 ​ ​ (33) ​ ​ — ​ ​ — ​ ​ (33) Total derivatives, not subject to a master netting arrangement ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Total derivatives ​ $ (89) ​ $ 56 ​ $ (33) ​ $ — ​ $ — ​ $ (33)

Equity-Based Compensation (Tabl

Equity-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2022
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Schedule of assumptions used to estimate fair value of incentive units	​ ​ ​ ​ ​ ​ ​ Fiscal Year Ended ​ ​ December 25, 2021 ​ December 26, 2020 Expected term 1.5 to 3.5 yrs ​ 1.5 to 3.5 yrs Risk-free rate of return ​ 1.61% ​ 1.61% Applied volatility ​ 20% ​ 20% ​
Schedule of incentive units activity	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Service Based ​ Performance Based ​ ​ Weighted Average ​ Weighted Average ​ ​ Incentive ​ Grant Date ​ Incentive ​ Grant Date ​ ​ Units ​ Fair Value ​ Units ​ Fair Value Outstanding at December 26, 2020 ​ 34,659 ​ $ 245 ​ 46,000 ​ $ 15 Granted 1,231 ​ ​ 842 ​ 1,722 ​ ​ 8 Forfeited ​ (332) ​ ​ 407 ​ (908) ​ ​ 13 Distribution of common stock with respect to IUs (1) (35,558) ​ ​ 264 ​ (46,814) ​ ​ 14 Outstanding at December 25, 2021 — ​ $ — — ​ $ — Vested at December 25, 2021 ​ — ​ ​ — ​ — ​ ​ — (1) In connection with the IPO, the Limited Partnership distributed its shares of Sovos Brands, Inc. common stock to its limited partners, including holders of IUs, in accordance with the applicable terms of its partnership agreement.
Schedule of restricted common stock activity	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Service Based ​ Performance Based ​ ​ Weighted Average ​ Weighted Average ​ ​ Restricted ​ Grant Date ​ Restricted ​ Grant Date ​ ​ Common Stock ​ Fair Value ​ Common Stock ​ Fair Value Nonvested at December 26, 2020 ​ — ​ $ — ​ — ​ $ — Distribution of restricted common stock (1)(2) ​ 94,646 ​ ​ 12.00 ​ 3,319,291 ​ ​ 3.91 Granted — ​ ​ — ​ — ​ ​ — Vested ​ (18,558) ​ ​ 12.00 ​ (683,442) ​ ​ 7.86 Forfeited back to the Limited Partnership (3) ​ (3,847) ​ ​ 12.00 ​ (45,001) ​ ​ 2.89 Nonvested at December 25, 2021 72,241 ​ $ 12.00 2,590,848 ​ $ 5.25 Granted ​ — ​ ​ — ​ — ​ ​ — Vested ​ (63,548) ​ ​ 12.00 ​ (276,008) ​ ​ 13.29 Forfeited back to the Limited Partnership (3) ​ (1,229) ​ ​ 12.00 ​ (371,974) ​ ​ 4.98 Nonvested at December 31, 2022 ​ 7,464 ​ ​ 12.00 ​ 1,942,866 ​ ​ 4.15 Vested at December 31, 2022 791,012 ​ $ 12.00 959,450 ​ $ 9.42 (1) The service-based restricted common stock excludes 708,906 shares that vested prior to distribution. None of the performance-based restricted common stock vested prior to distribution. (2) The weighted average grant date fair value for the performance-based restricted common stock at distribution was based on the 2.0 x multiple of invested capital (“MOIC”) modification described below. A subsequent modification in November 2021 to the 4.0 x MOIC restricted common stock resulted in an increase in the weighted average grant date fair value for those shares to $15.15 per share. (3) S hares of restricted common stock that do not vest are not cancelled but instead remain outstanding and are forfeited back to the Limited Partnership.
Schedule of equity-based compensation expense	​ ​ ​ ​ ​ ​ ​ ​ ​ Fiscal Year Ended (In thousands) ​ December 31, 2022 ​ December 25, 2021 Equity awards under the 2017 Plan (Pre-IPO) ​ ​ RSAs ​ $ 1,103 ​ $ 1,750 PSAs ​ 6,677 ​ 6,688 Total equity-based compensation expense for the 2017 Plan ​ ​ 7,780 ​ ​ 8,438 Equity awards under the 2021 Plan (Post-IPO) ​ ​ ​ ​ ​ ​ RSUs ​ ​ 7,425 ​ ​ 982 PSUs ​ ​ 3,233 ​ ​ 404 Total equity-based compensation expense for the 2021 Plan ​ ​ 10,658 ​ ​ 1,386 Total equity-based compensation expense ​ $ 18,438 ​ $ 9,824
Restricted Stock Units
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Schedule of restricted stock unit activity	​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted Average ​ ​ Restricted Stock ​ Grant Date ​ ​ Units ​ Fair Value Outstanding at December 26, 2020 ​ — ​ $ — Granted ​ 967,158 ​ ​ 12.00 Vested ​ — ​ ​ — Forfeited ​ (39,936) ​ ​ 12.00 Outstanding at December 25, 2021 ​ 927,222 ​ ​ 12.00 Granted ​ 946,949 ​ ​ 14.06 Vested ​ (75,363) ​ ​ 12.07 Forfeited ​ (181,793) ​ ​ 12.48 Outstanding at December 31, 2022 ​ 1,617,015 ​ $ 13.15 Vested at December 31, 2022 ​ 75,363 ​ $ 12.07 ​
Performance Based Restricted Stock Units
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Schedule of restricted stock unit activity	​ ​ ​ ​ ​ ​ ​ ​ Performance-based Weighted Average ​ ​ Restricted Stock ​ Grant Date ​ ​ Units ​ Fair Value Outstanding at December 26, 2020 ​ — ​ $ — Granted ​ 687,690 ​ ​ 7.09 Vested ​ — ​ ​ — Forfeited ​ (5,728) ​ ​ 7.09 Outstanding at December 25, 2021 ​ 681,962 ​ ​ 7.09 Granted ​ 423,222 ​ ​ 15.63 Vested ​ — ​ ​ — Forfeited ​ (130,493) ​ ​ 8.58 Outstanding at December 31, 2022 ​ 974,691 ​ $ 10.60 Vested at December 31, 2022 ​ — ​ $ — ​

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2022
Income Taxes
Schedule of income tax expense (benefit)	Income tax (expense) benefit consists of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fiscal Year Ended (In thousands) ​ ​ December 31, 2022 ​ ​ December 25, 2021 ​ ​ December 26, 2020 Current: ​ ​ ​ ​ ​ Federal ​ $ — ​ $ (641) ​ $ — State ​ (933) ​ (791) ​ (1,928) Total current tax (expense) ​ (933) ​ (1,432) ​ (1,928) Deferred: ​ ​ ​ Federal ​ 10,229 ​ (3,414) ​ (805) State ​ 3,592 ​ 1,171 ​ (3,944) Total deferred tax (expense) benefit ​ 13,821 ​ (2,243) ​ (4,749) Income tax (expense) benefit ​ $ 12,888 ​ $ (3,675) ​ $ (6,677) ​
Schedule of income tax expense reconciliation	Total income tax (expense) benefit in fiscal 2022, 2021 and 2020 varies from the amounts computed by applying the federal statutory income tax rate of 21% to income (loss) before income taxes primarily due to the following items: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fiscal Year Ended ​ (In thousands) ​ ​ December 31, 2022 ​ ​ December 25, 2021 ​ ​ December 26, 2020 ​ United States statutory income tax (expense) benefit $ 13,931 21.0 % $ (1,175) 21.0 % $ (3,676) 21.0 % State tax (expense) benefit, net of federal tax ​ 966 1.5 ​ (910) 16.3 ​ ​ (781) ​ 4.5 ​ Transaction costs ​ — — ​ 312 (5.6) ​ ​ 2,763 ​ (15.8) ​ Equity-based compensation ​ (1,634) (2.5) ​ (1,772) 31.7 ​ ​ (406) ​ 2.3 ​ Nondeductible executive compensation ​ ​ (912) ​ (1.4) ​ ​ (625) ​ 11.2 ​ ​ — ​ — ​ Other permanent items ​ (597) (0.9) ​ (180) 3.2 ​ ​ (113) ​ 0.6 ​ Remeasurement of deferred tax balances ​ 1,150 1.7 ​ 993 (17.7) ​ ​ (3,388) ​ 19.4 ​ Unrecognized tax (expense) benefit ​ 5 — ​ 121 (2.2) ​ ​ (609) ​ 3.5 ​ Return to provision ​ (412) (0.6) ​ (236) 4.2 ​ ​ (81) ​ 0.5 ​ Deferred income tax adjustments ​ 164 0.2 ​ (200) 3.6 ​ ​ (450) ​ 2.6 ​ Research and development credit ​ 281 0.4 ​ — — ​ ​ — ​ — ​ Other, net ​ (54) (0.1) ​ (3) 0.1 ​ ​ 64 ​ (0.4) ​ Income tax (expense) benefit ​ $ 12,888 19.3 % $ (3,675) 65.8 % $ (6,677) ​ 38.2 % ​
Schedule of deferred tax assets and liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ Fiscal Year Ended (In thousands) December 31, 2022 December 25, 2021 Deferred Tax Assets: ​ ​ Inventory ​ $ 1,148 ​ $ 1,506 Accrued compensation ​ 3,739 ​ 1,832 Bad debt allowance ​ 187 ​ 164 Net operating loss ​ 4,035 ​ 3,065 Contribution carryover ​ 221 ​ — Interest limitation ​ 9,395 ​ 3,493 Research and development credit ​ 281 ​ — Equity-based compensation ​ 1,555 ​ 229 Lease liability ​ 5,689 ​ 6,585 Other ​ 766 ​ 231 Total deferred tax assets ​ 27,016 ​ 17,105 Deferred Tax Liabilities: ​ ​ Property and equipment ​ (8,489) ​ (6,536) Intangible assets ​ (76,671) ​ (81,860) Prepaid expenses ​ (100) ​ (131) Right-of-use asset ​ ​ (4,677) ​ ​ (5,406) Interest rate hedge ​ ​ (489) ​ ​ — Other ​ (234) ​ (148) Total deferred tax liabilities ​ (90,660) ​ (94,081) Net deferred tax liabilities ​ $ (63,644) ​ $ (76,976)
Summary of NOL carryforwards by jurisdiction	The following table summarizes the NOL and R&D tax credit carryforwards by jurisdiction: ​ ​ ​ ​ ​ ​ (In thousands) Expiration Period December 31, 2022 Federal NOL None ​ $ 14,147 State NOL 2031‑2042 ​ 14,598 State NOL ​ None ​ ​ 11,327 Federal R&D 2042 ​ 281 ​
Summary of unrecognized tax benefits	The following table summarizes the Company's unrecognized tax benefits: ​ ​ ​ ​ (In thousands) ​ Balance at December 25, 2021 ​ $ 355 Gross increases related to prior period tax position ​ 48 Gross increases related to current period tax position ​ — Gross decreases related to prior period tax position ​ (88) Balance at December 31, 2022 ​ $ 315 ​

Related Party Transactions (Tab

Related Party Transactions (Tables)	12 Months Ended
	Dec. 31, 2022
Related Party Transaction [Line Items]
Schedule of transactions with related party	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fiscal Year Ended (In thousands) ​ December 31, 2022 ​ December 25, 2021 ​ December 26, 2020 Sales ​ $ 528 ​ $ 471 ​ $ 439 Purchases ​ $ 9,041 ​ $ 5,443 ​ $ 4,945 ​ ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) December 31, 2022 December 25, 2021 Receivables ​ $ 29 ​ $ 26 Payables ​ $ 870 ​ $ 354 ​
Schedule of estimated annual minimum purchase commitments with suppliers	​ ​ ​ ​ ​ Fiscal Year Ending (In thousands) 2023 ​ $ 3,500 2024 ​ 3,500 2025 ​ 2,375 2026 ​ — 2027 ​ — Thereafter ​ — Total ​ $ 9,375 ​
Morning Fresh
Related Party Transaction [Line Items]
Schedule of estimated annual minimum purchase commitments with suppliers	As of December 31, 2022, the estimated annual minimum purchase commitments with Morning Fresh are as follows: ​ ​ ​ ​ Fiscal Year Ending (In thousands) 2023 ​ $ 8,375 2024 ​ ​ 8,375 2025 ​ ​ 8,375 2026 ​ ​ 8,375 2027 ​ ​ 8,375 Thereafter ​ ​ — Total ​ $ 41,875 ​

Earnings (Loss) Per Share (Tabl

Earnings (Loss) Per Share (Tables)	12 Months Ended
	Dec. 31, 2022
Earnings (Loss) Per Share
Schedule of Basic and diluted earnings (loss) per share	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fiscal Year Ended (In thousands, except share and per share amounts) December 31, 2022 December 25, 2021 December 26, 2020 Net income (loss) ​ $ (53,451) ​ $ 1,919 ​ $ 10,825 ​ ​ ​ ​ ​ ​ Weighted average basic common shares outstanding ​ ​ 100,917,978 ​ ​ 80,616,326 ​ ​ 74,058,569 Effect of dilutive securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ Restricted stock units ​ — ​ — ​ 1,862,496 Performance stock units ​ ​ — ​ ​ — ​ ​ — Total ​ ​ — ​ ​ — ​ ​ 1,862,496 Weighted average and potential dilutive common shares outstanding ​ ​ 100,917,978 ​ ​ 80,616,326 ​ ​ 75,921,065 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Earnings (loss) per share ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic ​ $ (0.53) ​ $ 0.02 ​ $ 0.15 Diluted ​ $ (0.53) ​ $ 0.02 ​ $ 0.14 ​
Schedule of anti-dilutive securities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fiscal Year Ended ​ December 31, 2022 December 25, 2021 ​ December 26, 2020 Restricted stock units ​ ​ 49,309 ​ ​ 927,222 ​ ​ — Performance stock units ​ ​ — ​ ​ — ​ ​ — Total anti-dilutive shares ​ ​ 49,309 ​ ​ 927,222 ​ ​ —

Company Overview (Details)

Company Overview (Details)	Dec. 31, 2022 subsidiary
Sovos Brands Intermediate, Inc.
Consolidation, Wholly Owned Subsidiary, Parent Ownership Interest [Line Items]
Number of subsidiaries	4

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details) - USD ($)	1 Months Ended		12 Months Ended
	Dec. 25, 2021	Jun. 30, 2021	Dec. 31, 2022	Dec. 25, 2021	Dec. 26, 2020	Sep. 30, 2021
Summary of Significant Accounting Policies
Allowance for doubtful accounts	$ 700,000		$ 800,000	$ 700,000
Charges related to credit loss on accounts receivables			6,000	200,000	$ 200,000
Supplier advance	10,000,000			10,000,000
Credit loss within operating expenses	5,000,000
Deferred offering costs	$ 0		0	0		$ 7,600,000
Impairments of long-lived assets			0	0	0
Write off of debt issuance costs			0		0
Advertising and marketing expenses			40,700,000	38,900,000	38,900,000
Research and development expense			$ 6,700,000	5,100,000	$ 3,600,000
2018 Term loan and Incremental Term loan
Summary of Significant Accounting Policies
Write off of debt issuance costs		$ 9,400,000		$ 15,400,000

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Property and Equipment (Details)	12 Months Ended
	Dec. 31, 2022
Furniture & fixtures | Minimum
Property, Plant and Equipment [Line Items]
Useful lives of property and equipment	1 year
Furniture & fixtures | Maximum
Property, Plant and Equipment [Line Items]
Useful lives of property and equipment	7 years
Machinery & equipment | Minimum
Property, Plant and Equipment [Line Items]
Useful lives of property and equipment	7 years
Machinery & equipment | Maximum
Property, Plant and Equipment [Line Items]
Useful lives of property and equipment	12 years
Computer Equipment | Minimum
Property, Plant and Equipment [Line Items]
Useful lives of property and equipment	3 years
Computer Equipment | Maximum
Property, Plant and Equipment [Line Items]
Useful lives of property and equipment	5 years
Software
Property, Plant and Equipment [Line Items]
Intangible asset useful life	3 years

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Intangible Assets (Details) - USD ($)	3 Months Ended		12 Months Ended			24 Months Ended
	Jun. 26, 2022	Jun. 25, 2022	Dec. 31, 2022	Dec. 25, 2021	Dec. 26, 2020	Dec. 25, 2021
Impairment charges
Goodwill impairment	$ 42,100,000	$ 42,100,000	$ 42,052,000	$ 0	$ 0	$ 0
Impairment of intangible assets, finite lived			0	0	0
Impairment of intangible assets, indefinite lived			$ 0	$ 0	$ 0
Customer Relationships | Minimum
Intangible Assets
Intangible asset useful life			10 years
Customer Relationships | Maximum
Intangible Assets
Intangible asset useful life			20 years
Tradename | Minimum
Intangible Assets
Intangible asset useful life			20 years
Tradename | Maximum
Intangible Assets
Intangible asset useful life			25 years

Summary of Significant Accoun_7

Summary of Significant Accounting Policies - Concentrations of risk percentage (Details)	12 Months Ended
	Dec. 31, 2022 customer item	Dec. 25, 2021 item customer	Dec. 26, 2020 customer
Accounts receivable | Customer concentration risk | Costco Wholesale Corporation
Concentration Risk [Line Items]
Concentration risk percentage	32%	14%
Accounts receivable | Customer concentration risk | Walmart Inc.
Concentration Risk [Line Items]
Concentration risk percentage	15%	15%
Total gross sales | Customer concentration risk
Concentration Risk [Line Items]
Number of customers | customer	3	3	3
Total gross sales | Customer concentration risk | Costco Wholesale Corporation
Concentration Risk [Line Items]
Concentration risk percentage	17%	18%	16%
Total gross sales | Customer concentration risk | Walmart Inc.
Concentration Risk [Line Items]
Concentration risk percentage	13%	13%	13%
Total gross sales | Customer concentration risk | United Natural Foods, Inc.
Concentration Risk [Line Items]
Concentration risk percentage	10%	11%
Total gross sales | Customer concentration risk | KeHE Distributors
Concentration Risk [Line Items]
Concentration risk percentage			11%
Inventory purchases | Supplier concentration risk | One vendor
Concentration Risk [Line Items]
Number of vendors | item	1	1
Concentration risk percentage	53%	53%

Loss on Asset Sale (Details)

Loss on Asset Sale (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($)
Loss on Asset Sale
Proceeds from sale of business	$ 40,000
Loss on asset sale	(51,291)
Disposed by sale | Birch Benders brand
Loss on Asset Sale
Proceeds from sale of business	40,000
Inventory	(5,424)
Intangible assets, net	(85,867)
Total assets sold	(91,291)
Loss on asset sale	$ (51,291)

Revenue Recognition (Details)

Revenue Recognition (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 25, 2021	Dec. 26, 2020
Revenue Recognition
Total net sales	$ 878,371	$ 719,186	$ 560,067
Rao's
Revenue Recognition
Total net sales	580,088	419,966	313,618
Noosa
Revenue Recognition
Total net sales	176,166	163,476	153,492
Michael Angelo's
Revenue Recognition
Total net sales	80,925	79,414	83,896
Birch Benders
Revenue Recognition
Total net sales	$ 41,192	$ 56,330	$ 9,061

Inventories, Net (Details)

Inventories, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 25, 2021
Inventories, Net
Finished goods	$ 76,404	$ 38,715
Raw materials and packaging supplies	16,198	12,900
Total inventories, net	$ 92,602	$ 51,615

Property and Equipment, Net (De

Property and Equipment, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 25, 2021
Property and Equipment, Net
Gross property and equipment	$ 112,769	$ 100,467
Less: Accumulated depreciation and amortization	48,452	37,796
Property and equipment, net	64,317	62,671
Machinery & equipment
Property and Equipment, Net
Gross property and equipment	63,077	45,329
Leasehold improvements
Property and Equipment, Net
Gross property and equipment	40,288	39,296
Construction in progress
Property and Equipment, Net
Gross property and equipment	6,384	12,074
Furniture & fixtures
Property and Equipment, Net
Gross property and equipment	1,605	2,119
Other
Property and Equipment, Net
Gross property and equipment	$ 1,415	$ 1,649

Property and Equipment, Net - N

Property and Equipment, Net - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 25, 2021	Dec. 26, 2020
Property and Equipment, Net
Depreciation and amortization expense	$ 11.6	$ 10.6	$ 10.6
Cost of goods sales, Depreciation and amortization	$ 10.1	$ 8.9	$ 9.1

Goodwill (Details)

Goodwill (Details) $ in Thousands	3 Months Ended		12 Months Ended			24 Months Ended
	Jun. 26, 2022 USD ($)	Jun. 25, 2022 USD ($)	Dec. 31, 2022 USD ($) item	Dec. 25, 2021 USD ($) item	Dec. 26, 2020 USD ($)	Dec. 25, 2021 USD ($)
Goodwill
Beginning balance			$ 437,451	$ 437,290
Purchase accounting adjustments				161
Impairment	$ (42,100)	$ (42,100)	(42,052)	0	$ 0	$ 0
Ending balance			$ 395,399	$ 437,451	$ 437,290	$ 437,451
Number of reporting units | item			3	3

Intangible Assets, Net (Details

Intangible Assets, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 25, 2021	Dec. 26, 2020
Intangible assets - definite lives
Gross carrying amount	$ 405,347	$ 405,347
Accumulated amortization	120,933	93,692
Sale of intangible assets	85,867	0	$ 0
Total	198,547	311,655
Intangible assets - indefinite lives
Gross Carrying Amount	558,347	558,347
Accumulated amortization	120,933	93,692
Sale of intangible assets	85,867
Net carrying amount	351,547	464,655
Tradename
Intangible assets - indefinite lives
Net carrying amount	153,000	153,000
Customer relationships
Intangible assets - definite lives
Gross carrying amount	213,000	213,000
Accumulated amortization	89,201	71,330
Sale of intangible assets	5,082
Total	118,717	141,670
Intangible assets - indefinite lives
Accumulated amortization	89,201	71,330
Tradename
Intangible assets - definite lives
Gross carrying amount	192,347	192,347
Accumulated amortization	31,732	22,362
Sale of intangible assets	80,785
Total	79,830	169,985
Intangible assets - indefinite lives
Accumulated amortization	$ 31,732	$ 22,362

Intangible Assets, Net - Narrat

Intangible Assets, Net - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 25, 2021	Dec. 26, 2020
Finite-Lived Intangible Assets [Line Items]
Amortization expense	$ 27,200,000	$ 27,200,000	$ 23,200,000
Sales of definite lived intangible assets	85,867,000	0	0
Finite lived intangible assets net	198,547,000	311,655,000
Impairment of intangible assets, finite lived	0	0	0
Impairment of intangible assets, indefinite lived	0	0	$ 0
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Sales of definite lived intangible assets	5,082,000
Finite lived intangible assets net	118,717,000	141,670,000
Tradename
Finite-Lived Intangible Assets [Line Items]
Sales of definite lived intangible assets	80,785,000
Finite lived intangible assets net	79,830,000	$ 169,985,000
Birch Benders | Customer relationships
Finite-Lived Intangible Assets [Line Items]
Sales of definite lived intangible assets	5,100,000
Birch Benders | Tradename
Finite-Lived Intangible Assets [Line Items]
Sales of definite lived intangible assets	$ 80,800,000

Intangible Assets, Net - Amorti

Intangible Assets, Net - Amortization expense (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 25, 2021
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2023	$ 22,425
2024	22,425
2025	22,425
2026	22,425
2027	17,782
Thereafter	91,065
Total	$ 198,547	$ 311,655

Accrued Expenses (Details)

Accrued Expenses (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 25, 2021
Accrued Expenses
Accrued trade	$ 32,337	$ 23,122
Accrued general expense	17,911	15,327
Accrued compensation and benefits	17,328	10,478
Accrued marketing	1,995	2,830
Total accrued expenses	$ 69,571	$ 51,757

Long-Term Debt - Schedule of Lo

Long-Term Debt - Schedule of Long-term debt (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 25, 2021
Long-term debt
Principal	$ 487,817	$ 487,895
Unamortized debt issuance costs	(5,374)	(6,377)
Total debt, net	480,800
Finance lease liabilities	$ 7,017	$ 7,095
Finance Lease, Liability, Statement of Financial Position [Extensible Enumeration]	Total debt	Total debt
Total debt	$ 482,443	$ 481,518
Less: current portion of finance lease liabilities	99	98
Total long-term debt	482,344	481,420
Initial First Lien Term Loan Facility
Long-term debt
Principal	480,800	480,800
Unamortized debt issuance costs	(5,374)	(6,377)
Total debt, net	$ 475,426	$ 474,423

Long-Term Debt (Details)

Long-Term Debt (Details) - USD ($) $ in Thousands		1 Months Ended			12 Months Ended
	Jun. 08, 2021	Oct. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Dec. 31, 2022	Dec. 25, 2021	Dec. 26, 2020	Oct. 31, 2020	Nov. 30, 2018
Long-term debt
Dividends	$ 400,000
Loss on the extinguishment						$ (15,382)
Write off of debt issuance costs					$ 0		$ 0
Principal					487,817	487,895
Payment of debt issuance costs						3,046	2,263
Amortization of debt issuance costs					1,331	1,883	1,775
Interest expense net
Long-term debt
Amortization of debt issuance costs					1,200	1,900	$ 1,800
Initial First Lien Term Loan Facility
Long-term debt
Prepayment of debt		$ 39,500	$ 59,700
Accrued interest		$ 900	900
Loss on the extinguishment			(1,400)
Principal					480,800
Payment of debt issuance costs				$ 6,800
Threshold limit of Percentage of minimum interest rate				0%
Revolving Facility
Long-term debt
Loan amount									$ 45,000
Write off of debt issuance costs				$ 300
Payment of debt issuance costs				1,100
Amortization of debt issuance costs				200
Available credit					125,000	125,000
Outstanding debt					$ 0
Initial Second Lien Facility
Long-term debt
Prepayment of debt			200,000
Accrued interest			2,900
Write off of debt issuance costs			$ 4,300
Debt discounts on issuance				4,000
Payment of debt issuance costs				$ 500
Percentage of reduction in interest upon consummation of an IPO					0.25%
Threshold limit of Percentage of minimum interest rate				0.75%
Initial Second Lien Facility | LIBOR
Long-term debt
Interest rate (as a percent)					8%
Threshold limit of Percentage of minimum interest rate					0.75%
First Lien Revolving Line of Credit
Long-term debt
Threshold limit of Percentage of minimum interest rate				0%
Outstanding debt					$ 0	0
2018 Term loan
Long-term debt
Loan amount									$ 280,000
Incremental Term Loan
Long-term debt
Loan amount								$ 100,000
2018 Term loan and Incremental Term loan
Long-term debt
Write off of debt issuance costs				$ 9,400		$ 15,400
2018 Term loan and Incremental Term loan | Credit Suisse AG, Cayman Islands Branch
Long-term debt
Repayment of outstanding loan				373,200
First Lien Credit Agreement
Long-term debt
Threshold limit, maximum leverage ratio of consolidated first lien net debt to consolidated EBITDA					6.95
Financial covenant testing threshold percentage of aggregate revolving credit commitments					35%
First Lien Credit Agreement | Initial First Lien Term Loan Facility
Long-term debt
Loan amount				580,000
First Lien Credit Agreement | Revolving Facility
Long-term debt
Available credit				125,000
First Lien Credit Agreement | Letter of credit facility
Long-term debt
Available credit				45,000
Second Lien Credit Agreement | Initial Second Lien Facility
Long-term debt
Loan amount				$ 200,000
Initial First Lien Term Loan Facility and Revolving Facility
Long-term debt
Percentage of reduction in interest upon consummation of an IPO				0.50%
Effective interest rate (as a percent)					7.91%	4.50%
Initial First Lien Term Loan Facility and Revolving Facility | LIBOR | Minimum
Long-term debt
Interest rate (as a percent)				4%
Initial First Lien Term Loan Facility and Revolving Facility | LIBOR | Maximum
Long-term debt
Interest rate (as a percent)				4.25%
Initial First Lien Term Loan Facility
Long-term debt
Principal					$ 480,800	$ 480,800
Debt discounts on issuance				$ 1,500

Long-Term Debt - Schedule of fu

Long-Term Debt - Schedule of future minimum principal payments (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Maturities of Long-term Debt [Abstract]
Thereafter	$ 480,800
Total debt, net	$ 480,800

Leases - Components of lease ex

Leases - Components of lease expenses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 25, 2021
Operating lease cost:
Total operating lease cost	$ 4,731	$ 4,650
Total finance lease cost	791	793
Total lease cost	5,762	5,665
Cost of sales and Selling, general and administrative
Operating lease cost:
Lease cost	3,313	3,266
Variable lease cost	1,418	1,384
Short term lease cost	240	222
Amortization of right-of-use assets	261	261
Interest expense net
Operating lease cost:
Interest on lease liabilities	$ 530	$ 532
Minimum
Leases
Lease term	2 years
Maximum
Leases
Lease term	10 years
Equipment
Leases
Lease term	5 years
Manufacturing facilities and office space
Leases
Lessor, Operating Lease, Existence of Option to Extend [true false]	true
Manufacturing facilities and office space | Minimum
Leases
Lease term	2 years
Manufacturing facilities and office space | Maximum
Leases
Lease term	30 years

Leases - Assets and Liabilities

Leases - Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 25, 2021
Leases
Operating lease right-of-use assets	$ 13,332	$ 15,672
Finance lease right-of-use assets	$ 6,038	$ 6,299
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Property, Plant and Equipment, Net	Property, Plant and Equipment, Net
Total lease assets	$ 19,370	$ 21,971
Current portion of long-term lease liabilities	3,308	3,216
Current portion of long-term finance lease liabilities	99	98
Operating lease liability, long-term	14,063	17,302
Finance lease liabilities, long-term	$ 6,918	$ 6,997
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Long-term Debt and Lease Obligation	Long-term Debt and Lease Obligation
Total lease liabilities	$ 24,388	$ 27,613

Leases - Other information (Det

Leases - Other information (Details)	Dec. 31, 2022	Dec. 25, 2021
Leases
Weighted-average remaining lease term (years) - operating leases	6 years 4 months 24 days	7 years 1 month 6 days
Weighted-average remaining lease term (years) - Finance leases	34 years 2 months 12 days	34 years 9 months 18 days
Weighted-average discount rate - operating leases	4.90%	4.90%
Weighted-average discount rate - Finance leases	7.80%	7.80%

Leases - Future maturities of l

Leases - Future maturities of lease liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 25, 2021
Operating Leases
2023	$ 4,062
2024	3,493
2025	2,982
2026	3,005
2027	3,064
Thereafter	3,856
Total lease payments	20,462
Less: Interest	(3,091)
Present value of lease liabilities	17,371
Finance Leases
2023	609
2024	557
2025	549
2026	520
2027	525
Thereafter	18,445
Total lease payments	21,205
Less: Interest	(14,188)
Present value of lease liabilities	$ 7,017	$ 7,095

Leases - Supplemental cash flow

Leases - Supplemental cash flow and other information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 25, 2021
Leases
Operating cash flows from operating leases	$ 4,045	$ 3,893
Operating cash flows from finance leases	530	532
Financing cash flows from finance leases	78	66
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 78	$ 1,638

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($) item	Dec. 25, 2021 USD ($)
Commitments and Contingencies.
Purchase commitments to third-party manufacturers | $	$ 3	$ 2.4
Number of suppliers | item	1

Commitments and Contingencies_2

Commitments and Contingencies - Estimated annual minimum purchase commitments with suppliers (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Purchase commitments with suppliers
2023	$ 3,500
2024	3,500
2025	2,375
Total	$ 9,375

Fair Value of Financial Instr_3

Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended			24 Months Ended
	Jun. 26, 2022	Jun. 25, 2022	Dec. 31, 2022	Dec. 25, 2021	Dec. 26, 2020	Dec. 25, 2021
Fair Value of Financial Instruments
Asset transfer from level 1 to level 2			$ 0	$ 0		$ 0
Asset transfer from level 2 to level 1			0	0		0
Liabilities transfer from level 1 to level 2			0	0		0
Liabilities transfer from level 2 to level 1			0	0		0
Assets transfer in or out of level 3			0	0
Liability transfer in or out of level 3			0	0
Impairment of goodwill	$ 42,100	$ 42,100	42,052	0	$ 0	0
Derivative assets			3,628	0		0
Derivative liabilities			$ 33	$ 0		$ 0

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Assets and liabilities measured at fair value on recurring basis (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 25, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Assets	$ 3,628	$ 0
Total Liabilities	33	$ 0
Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Assets	3,628
Not Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Liabilities	33
Recurring basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Assets	3,628
Total Liabilities	33
Recurring basis | Not Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Liabilities	$ 33
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Other Liabilities, Noncurrent
Recurring basis | Cash flow hedging | Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Assets	$ 3,628
Recurring basis | Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Assets	3,628
Total Liabilities	33
Recurring basis | Significant Other Observable Inputs (Level 2) | Not Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Liabilities	33
Recurring basis | Significant Other Observable Inputs (Level 2) | Cash flow hedging | Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Assets	$ 3,628

Hedging and Derivative Financ_3

Hedging and Derivative Financial Instruments - Fair value of derivative instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 25, 2021
Assets
Total Assets	$ 3,628	$ 0
Liabilities
Total Liabilities	33	$ 0
Not Designated as Hedging Instrument
Liabilities
Total Liabilities	33
Designated as Hedging Instrument
Assets
Total Assets	$ 3,628
Foreign exchange contract | Not Designated as Hedging Instrument
Assets
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Accrued Liabilities, Current	Accrued Liabilities, Current
Liabilities
Total Liabilities	$ 33
Interest rate cap | Prepaid expenses and other current assets | Designated as Hedging Instrument
Assets
Total Assets	1,997
Interest rate cap | Other long-term assets | Designated as Hedging Instrument
Assets
Total Assets	$ 1,631

Hedging and Derivative Financ_4

Hedging and Derivative Financial Instruments - Pre-tax effect of cash flow hedge accounting on accumulated OCI (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 25, 2021	Dec. 26, 2020
Derivative [Line Items]
Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income	$ 1,400
Designated as Hedging Instrument | Cash flow hedging
Derivative [Line Items]
Total notional value	240,000
Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income	$ 112
Derivative Instrument, Gain (Loss) Reclassified from AOCI into Income, Effective Portion, Statement of Income or Comprehensive Income [Extensible Enumeration]	Interest Income (Expense), Net	Interest Income (Expense), Net	Interest Income (Expense), Net
Designated as Hedging Instrument | LIBOR | Cash flow hedging
Derivative [Line Items]
Interest rate cap	4%
Foreign exchange contract | Not Designated as Hedging Instrument
Derivative [Line Items]
Total notional value	$ 145,700	$ 0
Interest rate cap | Designated as Hedging Instrument | Cash flow hedging
Derivative [Line Items]
Amount of Gain or (Loss) Recognized in OCI	$ 2,150

Hedging and Derivative Financ_5

Hedging and Derivative Financial Instruments - Effect of derivative financial instruments on Statements of Operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 25, 2021	Dec. 26, 2020
Not Designated as Hedging Instrument
Derivative [Line Items]
Gain (Loss) Recognized	$ 163,025	$ 135,060	$ 124,612
Designated as Hedging Instrument | Cash flow hedging
Derivative [Line Items]
Gain (Loss) Recognized	27,851	$ 30,885	$ 19,895
Foreign exchange contract | Not Designated as Hedging Instrument
Derivative [Line Items]
Gain (Loss) Recognized	(33)
Interest rate cap | Designated as Hedging Instrument | Cash flow hedging
Derivative [Line Items]
Gain (Loss) Recognized	$ 112

Hedging and Derivative Financ_6

Hedging and Derivative Financial Instruments - Offsetting of Derivative Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 25, 2021
Derivatives, subject to a master netting arrangement
Gross Amounts of Recognized Assets	$ 3,684
Gross Amounts Offset in the Balance Sheet	(56)
Gross Amounts Not Offset in the Balance Sheet, Gross Amounts of Recognized Assets	3,628
Derivatives, not subject to a master netting arrangement
Gross Amounts Not Offset in the Balance Sheet, Gross Amounts of Recognized Assets	3,628
Assets
Gross Amounts of Recognized Assets	3,684
Gross Amounts Offset in the Balance Sheet	(56)
Total Assets	3,628	$ 0
Gross Amounts Not Offset in the Balance Sheet, Gross Amounts of Recognized Assets	3,628
Foreign currency contract derivatives subject to master netting
Derivatives, subject to a master netting arrangement
Gross Amounts of Recognized Assets	56
Gross Amounts Offset in the Balance Sheet	(56)
Assets
Gross Amounts of Recognized Assets	56
Gross Amounts Offset in the Balance Sheet	(56)
Derivatives not Subject to master netting
Derivatives, subject to a master netting arrangement
Gross Amounts Not Offset in the Balance Sheet, Gross Amounts of Recognized Assets	3,628
Derivatives, not subject to a master netting arrangement
Gross Amounts Offset in the Balance Sheet	3,628
Gross Amounts Not Offset in the Balance Sheet, Gross Amounts of Recognized Assets	3,628
Assets
Gross Amounts Not Offset in the Balance Sheet, Gross Amounts of Recognized Assets	$ 3,628

Hedging and Derivative Financ_7

Hedging and Derivative Financial Instruments - Offsetting of Derivative Liabilities (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Derivative Liability, Subject to Master Netting Arrangement, after Offset and Deduction [Abstract]
Gross Amounts of Recognized Liabilities	$ (89)
Gross Amounts Offset in the Balance Sheet	56
Net Amounts of Liabilities Presented in the Balance Sheet	(33)
Net Amount	(33)
Liabilities
Gross Amounts of Recognized Liabilities	(89)
Gross Amounts Offset in the Balance Sheet	56
Net Amounts of Liabilities Presented in the Balance Sheet	(33)
Net Amount	(33)
Foreign currency contract derivatives subject to master netting
Derivative Liability, Subject to Master Netting Arrangement, after Offset and Deduction [Abstract]
Gross Amounts of Recognized Liabilities	(89)
Gross Amounts Offset in the Balance Sheet	56
Net Amounts of Liabilities Presented in the Balance Sheet	(33)
Net Amount	(33)
Liabilities
Gross Amounts of Recognized Liabilities	(89)
Gross Amounts Offset in the Balance Sheet	56
Net Amounts of Liabilities Presented in the Balance Sheet	(33)
Net Amount	$ (33)

Stockholders' Equity (Details)

Stockholders' Equity (Details) $ / shares in Units, $ in Thousands								12 Months Ended
	Mar. 08, 2023 shares	Aug. 22, 2022 shares	Aug. 10, 2022 $ / shares shares	Oct. 05, 2021 USD ($) shares	Sep. 27, 2021 USD ($) $ / shares shares	Sep. 08, 2021 $ / shares shares	Jun. 08, 2021 USD ($)	Dec. 25, 2021 USD ($) $ / shares shares	Dec. 31, 2022 $ / shares shares	Sep. 23, 2021 $ / shares shares	Sep. 07, 2021 $ / shares shares
Subsidiary, Sale of Stock [Line Items]
Payment of dividends | $							$ 400,000	$ 400,000
Shares authorized										510,000,000
Common stock, authorized (in shares)						500,000,000		500,000,000	500,000,000	500,000,000	750,000
Common stock, par value (in dollars per share) | $ / shares						$ 0.001		$ 0.001	$ 0.001	$ 0.001	$ 0.01
Preferred stock, authorized (in shares)								10,000,000	10,000,000	10,000,000
Preferred stock, par value (in dollars per share) | $ / shares								$ 0.001	$ 0.001	$ 0.001
Stock split ratio						120.8
Number of fractional shares issued						0
Common stock, issued (in shares)						74,058,447		100,892,547	100,967,910
Common stock, outstanding (in shares)						74,058,447		100,892,547	100,967,910
Common stock issued (in shares)		1,275,000
Offering price (in dollar per share) | $ / shares			$ 14
IPO
Subsidiary, Sale of Stock [Line Items]
Common stock, par value (in dollars per share) | $ / shares					$ 0.001
Common stock issued (in shares)					23,334,000
Offering price (in dollar per share) | $ / shares					$ 12
Net proceeds from IPO | $					$ 263,200
Underwriting discounts and commissions | $					$ 16,800
Over-Allotment Option
Subsidiary, Sale of Stock [Line Items]
Common stock, outstanding (in shares)	101,214,297
Common stock issued (in shares)	36,609,100		8,500,000	3,500,100
Net proceeds from IPO | $				$ 39,500
Underwriting discounts and commissions | $				$ 2,500
Ownership percentage held by new investors	36.20%

Equity-Based Compensation (Deta

Equity-Based Compensation (Details) $ / shares in Units, $ in Thousands				12 Months Ended
	Feb. 23, 2023	Nov. 03, 2021 tranche shares	Sep. 21, 2021 USD ($) installment tranche item shares	Dec. 31, 2022 USD ($) installment $ / shares shares	Dec. 25, 2021 USD ($) $ / shares shares	Dec. 26, 2020	Nov. 04, 2021 $ / shares
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Allocated share based payments | $				$ 18,438	$ 9,824
Applied volatility					33.30%
2021 Equity Incentive Plan
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Allocated share based payments | $				$ 10,658	$ 1,386
Shares reserved for future issuance			9,739,244	7,072,175
Time Based Restricted Common Stock | Tranche One | Subsequent Event
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Vesting percentage	50%
Time Based Restricted Common Stock | Tranche Two | Subsequent Event
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Vesting percentage	50%
Performance Based Incentive Units
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Vested			0	1,942,866
Shares reserved for future issuance				79,422
Increase in fair value | $ / shares							$ 15.15
Performance Based Incentive Units | Tranche One
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Vested				169,698
Performance Based Incentive Units | Tranche Two
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Vested				1,776,168
Service Based Incentive Units
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Vested			708,906
Performance Based Restricted Stock Units
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Allocated share based payments | $				$ 3,233	$ 404
Performance Based Restricted Stock Units | Employees
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Grants in period				343,800	687,690
Performance Based Restricted Stock Units | Minimum
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Percentage of shares may be earned				0%
Performance Based Restricted Stock Units | Maximum
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Percentage of shares may be earned				200%
Performance Based Restricted Stock Units | 2021 Equity Incentive Plan
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Grants in period				423,222	687,690
Unvested shares				974,691	681,962
Forfeited				(130,493)	(5,728)
Increase in fair value | $ / shares				$ 10.60	$ 7.09
Performance Based Restricted Common Stock
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Modified grant date fair value | $				$ 6,100
Multiplying factor for invested capital | tranche		4	2
Volume of weighted average share price, number of day | item			30
Maximum percentage owned by ultimate parent			25%
Term of post IPO			30 months
Vested		683,442		276,008	683,442
Unvested shares				1,942,866	2,590,848
Fair value of Incentive Units | $			$ 13,000
Forfeited				(371,974)	(45,001)
Increase in fair value | $ / shares				$ 4.15	$ 5.25
Service Based Restricted Common Stock
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Vested				63,548	18,558
Unvested shares				7,464	72,241
Forfeited				(1,229)	(3,847)
Increase in fair value | $ / shares				$ 12	$ 12
Service Based Restricted Common Stock | Tranche One
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Vested				7,464
Restricted Stock Units
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Allocated share based payments | $				$ 7,425	$ 982
Restricted Stock Units | Vesting in Two Installments | Employees
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Number of equal installmetns | installment				2
Restricted Stock Units | Vesting in Three Installments | Employees
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Grants in period				314,306
Number of equal installmetns | installment				3
Restricted Stock Units | Vesting In First Anniversary | Director
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Grants in period				27,810
Restricted Stock Units | 2021 Equity Incentive Plan
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Vested				75,363
Grants in period				946,949	967,158
Unvested shares				1,617,015	927,222
Forfeited				(181,793)	(39,936)
Increase in fair value | $ / shares				$ 13.15	$ 12
Restricted Stock Units | 2021 Equity Incentive Plan | Employees and Independent Directors
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Grants in period			967,158
Restricted Stock Units | 2021 Equity Incentive Plan | Tranche One | Employees
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Grants in period			759,362
Vesting percentage			100%
Restricted Stock Units | 2021 Equity Incentive Plan | Tranche Three | Employees and Independent Directors
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Grants in period			191,130
Number of installments | installment			3
Restricted Stock Units | 2021 Equity Incentive Plan | Tranche Four | Director
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Grants in period			16,666
Incentive Units
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Applied volatility					20%	20%
Time based RSUs | Employees and Independent Directors
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Grants in period				946,949
Time based RSUs | Vesting in Two Installments | Employees
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Grants in period				604,833

Equity-Based Compensation - Sch

Equity-Based Compensation - Schedule of assumptions used to estimate fair value of incentive units (Details)	12 Months Ended
	Dec. 25, 2021	Dec. 26, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Applied volatility	33.30%
Incentive Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free rate of return	1.61%	1.61%
Applied volatility	20%	20%
Incentive Units | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)	1 year 6 months	1 year 6 months
Incentive Units | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)	3 years 6 months	3 years 6 months

Equity-Based Compensation - S_2

Equity-Based Compensation - Schedule of Incentive Units Activity (Details) - $ / shares			12 Months Ended
	Nov. 03, 2021	Sep. 21, 2021	Dec. 31, 2022	Dec. 25, 2021
Incentive Units | Service Based
Incentive Units.
Beginning balance				34,659
Granted				1,231
Forfeited				(332)
Distribution on common stock with respect to IUs				(35,558)
Weighted Average Grant date Fair Value
Beginning balance				$ 245
Granted				842
Forfeited				407
Distribution of common stock with respect to IUs				$ 264
Incentive Units | Performance Based
Incentive Units.
Beginning balance				46,000
Granted				1,722
Forfeited				(908)
Distribution on common stock with respect to IUs				(46,814)
Weighted Average Grant date Fair Value
Beginning balance				$ 15
Granted				8
Forfeited				13
Distribution of common stock with respect to IUs				$ 14
Service Based Restricted Common Stock
Incentive Units.
Beginning balance			72,241
Forfeited			(1,229)	(3,847)
Distribution on common stock with respect to IUs				94,646
Vested			(63,548)	(18,558)
Ending balance			7,464	72,241
Vested balance			791,012
Weighted Average Grant date Fair Value
Beginning balance			$ 12
Distribution of restricted common stock				$ 12
Vested			12	12
Forfeited			12	12
Ending balance			12	$ 12
Vested balance			$ 12
Performance Based Restricted Common Stock
Incentive Units.
Beginning balance			2,590,848
Forfeited			(371,974)	(45,001)
Distribution of restricted common stock				3,319,291
Vested	(683,442)		(276,008)	(683,442)
Ending balance			1,942,866	2,590,848
Vested balance			959,450
Weighted Average Grant date Fair Value
Beginning balance			$ 5.25
Distribution of restricted common stock				$ 3.91
Vested			13.29	7.86
Forfeited			4.98	2.89
Ending balance			4.15	$ 5.25
Vested balance			$ 9.42
Service Based Incentive Units
Incentive Units.
Vested		(708,906)
Performance Based Incentive Units
Incentive Units.
Vested		0	(1,942,866)

Equity-Based Compensation - S_3

Equity-Based Compensation - Schedule of restricted stock and performance-based restricted stock units (Details) - 2021 Equity Incentive Plan - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 25, 2021
Restricted Stock Units
Incentive Units.
Beginning balance	927,222
Granted	946,949	967,158
Forfeited	(181,793)	(39,936)
Ending balance	1,617,015	927,222
Vested	(75,363)
Weighted Average Grant date Fair Value
Beginning balance	$ 12
Granted	14.06	$ 12
Forfeited	12.48	12
Ending balance	13.15	$ 12
Vested	$ 12.07
Performance Based Restricted Stock Units
Incentive Units.
Beginning balance	681,962
Granted	423,222	687,690
Forfeited	(130,493)	(5,728)
Ending balance	974,691	681,962
Weighted Average Grant date Fair Value
Beginning balance	$ 7.09
Granted	15.63	$ 7.09
Forfeited	8.58	7.09
Ending balance	$ 10.60	$ 7.09

Equity-Based Compensation - Com

Equity-Based Compensation - Compensation (Details) - USD ($) $ in Thousands	12 Months Ended		36 Months Ended
	Dec. 31, 2022	Dec. 25, 2021	Dec. 27, 2025
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Payment Arrangement, Expense	$ 18,438	$ 9,824
Forecast | Subsequent Event
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Payment Arrangement, Expense			$ 27,200
RSAs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Payment Arrangement, Expense	1,103	1,750
PSAs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Payment Arrangement, Expense	6,677	6,688
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Payment Arrangement, Expense	7,425	982
PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Payment Arrangement, Expense	3,233	404
2017 Equiyt Incentive Plan (PRE IPO)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Payment Arrangement, Expense	7,780	8,438
2021 Equiyt Incentive Plan (POST IPO)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Payment Arrangement, Expense	$ 10,658	$ 1,386

Employee Benefits (Details)

Employee Benefits (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 25, 2021	Dec. 26, 2020
Employee Benefits
Contributions to the plan	$ 1.8	$ 1.8	$ 1.4

Income Taxes - Income tax expen

Income Taxes - Income tax expense benefit (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 25, 2021	Dec. 26, 2020
Current:
Federal		$ (641)
State	$ (933)	(791)	$ (1,928)
Total current tax (expense)	(933)	(1,432)	(1,928)
Deferred:
Federal	10,229	(3,414)	(805)
State	3,592	1,171	(3,944)
Total deferred tax (expense) benefit	13,821	(2,243)	(4,749)
Income tax (expense) benefit	$ 12,888	$ (3,675)	$ (6,677)

Income Taxes - Summary of incom

Income Taxes - Summary of income tax expenses reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 25, 2021	Dec. 26, 2020
Effective income tax rate reconciliation amount
United States statutory income tax (expense) benefit	$ 13,931	$ (1,175)	$ (3,676)
State tax (expense) benefit, net of federal tax	966	(910)	(781)
Transaction costs		312	2,763
Equity-based compensation	(1,634)	(1,772)	(406)
Nondeductible executive compensation	(912)	(625)
Nondeductible executive compensation	(597)	(180)	(113)
Remeasurement of deferred tax balances	1,150	993	(3,388)
Unrecognized tax (expense) benefit	5	121	(609)
Return to provision	(412)	(236)	(81)
Deferred income tax adjustments	164	(200)	(450)
Research and development credit	281
Other, net	(54)	(3)	64
Income tax (expense) benefit	$ 12,888	$ (3,675)	$ (6,677)
Effective income tax rate reconciliation percent
United States statutory income tax expense (benefit) (percent)	21%	21%	21%
State tax expense (benefit), net of federal tax (percent)	1.50%	16.30%	4.50%
Transaction costs (percent)		(5.60%)	(15.80%)
Stock-based compensation (percent)	(2.50%)	31.70%	2.30%
Nondeductible executive compensation (percent)	(1.40%)	11.20%
Other permanent items (percent)	(0.90%)	3.20%	0.60%
Remeasurement of deferred tax balances (percent)	1.70%	(17.70%)	19.40%
Unrecognized tax benefits (percent)		(2.20%)	3.50%
Return to provision (percent)	(0.60%)	4.20%	0.50%
Income tax payable adjustment (percent)	0.20%	3.60%	2.60%
Deferred income tax adjustments (percent)	0.40%
Other, net (percent)	(0.10%)	0.10%	(0.40%)
Income tax expense (benefit) (percent)	19.30%	65.80%	38.20%

Income Taxes - Deferred income

Income Taxes - Deferred income tax assets and liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 25, 2021
Deferred Income Tax Assets:
Inventory	$ 1,148	$ 1,506
Accrued compensation	3,739	1,832
Bad debt allowance	187	164
Net operating loss	4,035	3,065
Contribution carryover	221
Interest limitation	9,395	3,493
Research and Development credit	281
Equity-based compensation	1,555	229
Lease liability	5,689	6,585
Other	766	231
Total deferred tax assets	27,016	17,105
Deferred Income Tax Liabilities:
Property and equipment	(8,489)	(6,536)
Intangible assets	(76,671)	(81,860)
Prepaid expenses	(100)	(131)
Right-of-use asset	(4,677)	(5,406)
Interest rate hedge	489
Other	(234)	(148)
Tootal deferred tax liabilities	(90,660)	(94,081)
Net deferred tax liabilities	$ (63,644)	$ (76,976)

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 25, 2021
Operating Loss Carryforwards [Line Items]
Valuation for deferred tax assets	$ 0
Research and development ("R&D") tax credit for federal purposes	$ 300
Percentage of value of capital stock	50%
Unrecognized tax benefits	$ 315	$ 355
Accrued interest and penalties related to unrecognized tax benefits	200	$ 100
Unrecognized tax benefits resulting from settlements with taxing authorities	0
Federal
Operating Loss Carryforwards [Line Items]
Net operating loss carryforward	14,100
State
Operating Loss Carryforwards [Line Items]
Net operating loss carryforward	$ 25,900

Income Taxes - Summary of NOL c

Income Taxes - Summary of NOL carryforwards by jurisdiction (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Federal
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards, subject to expiration dates	$ 14,147
Operating loss carryforwards, not subject to expiration dates	281
State
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards, subject to expiration dates	14,598
Operating loss carryforwards, not subject to expiration dates	$ 11,327

Income Taxes - Summary of unrec

Income Taxes - Summary of unrecognized tax benefits (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($)
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance, beginning of year	$ 355
Gross increases related to prior period tax position	48
Gross decreases related to prior period tax position	(88)
Balance, end of year	$ 315

Related Party Transactions (Det

Related Party Transactions (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($) item	Dec. 25, 2021 USD ($)	Dec. 26, 2020 USD ($)
Related Party Transaction [Line Items]
Related party leases | item	2
Finance lease liability	$ 6,918	$ 6,997
Operating lease liability, long-term	14,063	17,302
Morning Fresh
Related Party Transaction [Line Items]
Finance lease liability	6,800
Operating lease liability, long-term	500
Total facility lease payments	600	500	$ 500
Shares of utilities	$ 200	$ 200	$ 200

Related Party Transactions - Tr

Related Party Transactions - Transactions (Details) - Morning Fresh - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 25, 2021	Dec. 26, 2020
Related Party Transaction [Line Items]
Sales	$ 528	$ 471	$ 439
Purchases	9,041	5,443	$ 4,945
Receivables	29	26
Payables	$ 870	$ 354

Related Party Transactions - Na

Related Party Transactions - Narrative (Details)		1 Months Ended	12 Months Ended
	Feb. 26, 2021 USD ($)	Jan. 31, 2019 USD ($) shares	Dec. 31, 2022 USD ($) item	Dec. 25, 2021 USD ($) shares	Dec. 26, 2020 USD ($)
Related Party Transaction [Line Items]
Future commitments to purchase			$ 3,000,000	$ 2,400,000
Payments to parent					$ 35,000
Class A units
Related Party Transaction [Line Items]
Shares repurchased | shares				0
Morning Fresh
Related Party Transaction [Line Items]
Purchases			$ 9,041,000	$ 5,443,000	$ 4,945,000
Morning Fresh | Milk supply agreement
Related Party Transaction [Line Items]
Number of additional periods | item			15
Term of extension period			2 years
Written notice required to terminate agreement			4 years
Maximum quantity agreed to be received			3,650,000
Future commitments to purchase			$ 39,900,000
Monthly additional costs			33,000
Early termination penalty			$ 0
Term of Agreement			10 years
Morning Fresh | Milk supply agreement | Maximum
Related Party Transaction [Line Items]
Early termination penalty			$ 3,000,000
Stockholder | Class A units
Related Party Transaction [Line Items]
Issuance of notes to stockholders (in shares) | shares		5,217
Stockholder's note receivable		$ 6,000,000
Interest rate (as a percent)		3.12%
Proceeds from stockholder note receivable	$ 6,400,000
Sovos Brands Limited Partnership
Related Party Transaction [Line Items]
Receivable balance			$ 100,000	$ 400,000

Related Party Transactions - Su

Related Party Transactions - Summary of estimated annual minimum purchase commitments (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Purchase commitments with suppliers
2023	$ 3,500
2024	3,500
2025	2,375
Total	9,375
Related parties | Morning Fresh
Purchase commitments with suppliers
2023	8,375
2024	8,375
2025	8,375
2026	8,375
2027	8,375
Total	$ 41,875

Earnings (Loss) Per Share - Bas

Earnings (Loss) Per Share - Basic and Diluted earnings (loss) per share (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 25, 2021	Dec. 26, 2020
Earnings (Loss) Per Share
Net income (loss)	$ (53,451)	$ 1,919	$ 10,825
Weighted average basic common shares outstanding	100,917,978	80,616,326	74,058,569
Restricted stock units			1,862,496
Total			1,862,496
Weighted average and potential diluted common shares outstanding	100,917,978	80,616,326	75,921,065
Earnings (loss) per share
Basic earnings (loss) per share	$ (0.53)	$ 0.02	$ 0.15
Diluted earnings (loss) per share	$ (0.53)	$ 0.02	$ 0.14

Earnings (Loss) Per Share (Deta

Earnings (Loss) Per Share (Details) - shares	12 Months Ended
	Dec. 31, 2022	Dec. 25, 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive shares	49,309	927,222
Restricted Stock Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive shares	49,309	927,222

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent Event $ in Millions	Feb. 23, 2023 tranche	Feb. 25, 2023 USD ($)
Foreign Currency Hedges [Member]
Subsequent Event [Line Items]
Total notional value | $		$ 191.4
Time Based Restricted Common Stock | Vesting on September 23, 2024
Subsequent Event [Line Items]
Vesting percentage	50%
Time Based Restricted Common Stock | Vesting on September 23, 2025
Subsequent Event [Line Items]
Vesting percentage	50%
Modification to 2021 Equity Incentive Plan | Restricted stock | Minimum
Subsequent Event [Line Items]
Multiplying factor for invested capital	3
Modification to 2021 Equity Incentive Plan | Restricted stock | Maximum
Subsequent Event [Line Items]
Multiplying factor for invested capital	4
Modification to 2021 Equity Incentive Plan | Time Based Restricted Common Stock | Vesting on September 23, 2024
Subsequent Event [Line Items]
Vesting percentage	50%
Modification to 2021 Equity Incentive Plan | Time Based Restricted Common Stock | Vesting on September 23, 2025
Subsequent Event [Line Items]
Vesting percentage	50%