Sovos Brands (SOVO) 10-Q 8 Nov 23 2023 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2023	Nov. 03, 2023
Document and Entity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2023
Document Transition Report	false
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, Address Line One	168 Centennial Parkway
Entity Address, Address Line Two	Suite 200
Entity Address, City or Town	Louisville
Entity Address State Or Province	CO
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 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 Common Stock, Shares Outstanding		101,455,355
Entity Central Index Key	0001856608
Current Fiscal Year End Date	--12-30
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
CURRENT ASSETS:
Cash and cash equivalents	$ 202,524	$ 138,654
Accounts receivable, net	96,962	87,695
Inventories, net	80,629	92,602
Prepaid expenses and other current assets	7,326	11,974
Total current assets	387,441	330,925
Property and equipment, net	62,955	64,317
Operating lease right-of-use assets	11,482	13,332
Goodwill	395,399	395,399
Intangible assets, net	334,728	351,547
Other long-term assets	1,420	3,279
TOTAL ASSETS	1,193,425	1,158,799
CURRENT LIABILITIES:
Accounts payable	54,395	49,264
Accrued expenses	70,523	69,571
Current portion of long-term debt	202	99
Current portion of long-term operating lease liabilities	3,045	3,308
Total current liabilities	128,165	122,242
Long-term debt, net of debt issuance costs	483,588	482,344
Deferred income taxes	60,032	63,644
Long-term operating lease liabilities	11,867	14,063
Other long-term liabilities	590	483
TOTAL LIABILITIES	684,242	682,776
COMMITMENTS AND CONTINGENCIES (Note 11)
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, 101,375,933 and 100,967,910 shares issued and outstanding as of September 30, 2023 and December 31, 2022, respectively	101	101
Additional paid-in-capital	595,958	577,664
Accumulated deficit	(88,630)	(103,291)
Accumulated other comprehensive income	1,754	1,549
TOTAL STOCKHOLDERS' EQUITY	509,183	476,023
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 1,193,425	$ 1,158,799

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2023	Dec. 31, 2022	Sep. 26, 2021	Sep. 23, 2021
Condensed Consolidated Balance Sheets
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001		$ 0.001
Preferred stock, authorized (in shares)	10,000,000	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		$ 0.001
Common stock, authorized (in shares)	500,000,000	500,000,000		500,000,000
Common stock, issued (in shares)	101,375,933	100,967,910	74,058,447
Common stock, outstanding (in shares)	101,375,933	100,967,910	74,058,447

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 24, 2022	Sep. 30, 2023	Sep. 24, 2022
Condensed Consolidated Statements of Operations
Net sales	$ 257,944	$ 208,907	$ 728,370	$ 616,273
Revenue, Product and Service [Extensible Enumeration]	us-gaap:ProductMember	us-gaap:ProductMember	us-gaap:ProductMember	us-gaap:ProductMember
Cost of sales	$ 181,451	$ 147,090	$ 510,358	$ 445,525
Cost, Product and Service [Extensible Enumeration]	us-gaap:ProductMember	us-gaap:ProductMember	us-gaap:ProductMember	us-gaap:ProductMember
Gross profit	$ 76,493	$ 61,817	$ 218,012	$ 170,748
Operating expenses:
Selling, general and administrative	58,471	43,965	149,518	117,329
Depreciation and amortization	6,039	7,209	18,023	21,612
Impairment of goodwill	0	0	0	42,052
Total operating expenses	64,510	51,174	167,541	180,993
Operating income (loss)	11,983	10,643	50,471	(10,245)
Interest expense, net	8,621	6,679	26,000	18,414
Income (loss) before income taxes	3,362	3,964	24,471	(28,659)
Income tax (expense) benefit	(1,936)	(2,500)	(9,810)	3,895
Net income (loss)	$ 1,426	$ 1,464	$ 14,661	$ (24,764)
Earnings (loss) per share:
Basic (in dollars per share)	$ 0.01	$ 0.01	$ 0.14	$ (0.25)
Diluted (in dollars per share)	$ 0.01	$ 0.01	$ 0.14	$ (0.25)
Weighted average shares outstanding:
Basic (in shares)	101,327,970	100,913,121	101,259,880	100,901,161
Diluted (in shares)	103,775,264	101,613,928	102,851,599	100,901,161

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 24, 2022	Sep. 30, 2023	Sep. 24, 2022
Condensed Consolidated Statements of Comprehensive Income (Loss)
Net income (loss)	$ 1,426	$ 1,464	$ 14,661	$ (24,764)
Other comprehensive income:
Change in net unrealized gain on derivative instruments	(420)	1,785	269	1,785
Income tax effect	104	(434)	(64)	(434)
Unrealized gain on derivative instruments, net of tax	(316)	1,351	205	1,351
Total comprehensive income (loss)	$ 1,110	$ 2,815	$ 14,866	$ (23,413)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands	Common Stock	Additional Paid-in Capital	Retained Earnings (Accumulated Deficit)	Accumulated Other Comprehensive Income	Total
Balances, at beginning of period at Dec. 25, 2021	$ 101	$ 559,226	$ (49,840)		$ 509,487
Balances, at beginning (in shares) at Dec. 25, 2021	100,892,547
Increase (Decrease) in Stockholders' Equity
Equity-based compensation expense		13,240			13,240
Shares issued upon vesting of restricted stock units (in shares)	69,439
Other comprehensive income				$ 1,351	1,351
Net income (loss)			(24,764)		(24,764)
Balances, at ending of period at Sep. 24, 2022	$ 101	572,466	(74,604)	1,351	499,314
Balances, at ending (in shares) at Sep. 24, 2022	100,961,986
Balances, at beginning of period at Jun. 25, 2022	$ 101	567,860	(76,068)		491,893
Balances, at beginning (in shares) at Jun. 25, 2022	100,912,023
Increase (Decrease) in Stockholders' Equity
Equity-based compensation expense		4,606			4,606
Shares issued upon vesting of restricted stock units (in shares)	49,963
Other comprehensive income				1,351	1,351
Net income (loss)			1,464		1,464
Balances, at ending of period at Sep. 24, 2022	$ 101	572,466	(74,604)	1,351	499,314
Balances, at ending (in shares) at Sep. 24, 2022	100,961,986
Balances, at beginning of period at Dec. 31, 2022	$ 101	577,664	(103,291)	1,549	476,023
Balances, at beginning (in shares) at Dec. 31, 2022	100,967,910
Increase (Decrease) in Stockholders' Equity
Equity-based compensation expense		18,294			18,294
Shares issued upon vesting of restricted stock units (in shares)	408,023
Other comprehensive income				205	205
Net income (loss)			14,661		14,661
Balances, at ending of period at Sep. 30, 2023	$ 101	595,958	(88,630)	1,754	509,183
Balances, at ending (in shares) at Sep. 30, 2023	101,375,933
Balances, at beginning of period at Jul. 01, 2023	$ 101	589,591	(90,056)	2,070	501,706
Balances, at beginning (in shares) at Jul. 01, 2023	101,318,245
Increase (Decrease) in Stockholders' Equity
Equity-based compensation expense		6,367			6,367
Shares issued upon vesting of restricted stock units (in shares)	57,688
Other comprehensive income				(316)	(316)
Net income (loss)			1,426		1,426
Balances, at ending of period at Sep. 30, 2023	$ 101	$ 595,958	$ (88,630)	$ 1,754	$ 509,183
Balances, at ending (in shares) at Sep. 30, 2023	101,375,933

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 24, 2022
Operating activities
Net income (loss)	$ 14,661	$ (24,764)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	25,483	29,184
Equity-based compensation expense	18,294	13,240
Loss on foreign currency contracts	1,278	3,255
Non-cash interest expense	646
Deferred income taxes	(3,675)	(11,674)
Amortization of debt issuance costs	949	949
Non-cash operating lease expense	1,850	1,818
Provision for excess and obsolete inventory	2,663	2,350
Impairment of goodwill	0	42,052
Loss on disposal of property and equipment	296
Changes in operating assets and liabilities:
Accounts receivable, net	(9,267)	(13,234)
Inventories, net	9,309	(34,823)
Prepaid expenses and other current assets	363	215
Other long-term assets	32	372
Accounts payable	5,276	14,674
Accrued expenses	5,212	5,504
Other long-term liabilities	109	38
Operating lease liabilities	(2,459)	(2,386)
Net cash provided by operating activities	71,020	26,770
Investing activities
Purchases of property and equipment	(7,077)	(10,939)
Net cash (used in) investing activities	(7,077)	(10,939)
Financing activities
Repayments of capital lease obligations	(73)	(59)
Net cash (used in) financing activities	(73)	(59)
Cash and cash equivalents
Net increase in cash and cash equivalents	63,870	15,772
Cash and cash equivalents at beginning of period	138,654	66,154
Cash and cash equivalents at end of period	202,524	81,926
Supplemental disclosures of cash flow information
Cash paid for interest	31,101	19,039
Cash proceeds from interest	(6,377)	(282)
Cash paid for taxes	7,921	3,670
Proceeds from income tax refunds	(70)	(11)
Non-cash investing and financing transactions
Lease liabilities arising from operating lease right-of-use assets recognized after ASU No. 2016-02 transition		78
Acquisition of property and equipment not yet paid	352	$ 314
Lease liabilities arising from finance lease right-of-use assets	$ 667

Company Overview

Company Overview	9 Months Ended
	Sep. 30, 2023
Company Overview
Company Overview	Note 1. Company Overview 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 Aidaca, LLC. The Company’s principal products include a variety of pasta sauces, dry pasta, soups, frozen entrées Rao’s Michael Angelo’s noosa Through the end of fiscal 2022, the Company sold products marketed under the brand name of Birch Benders . Loss on Asset Sale Birch Benders Pending Merger with Campbell’s On August 7, 2023, the Company entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Campbell Soup company (“Campbell’s”) and Premium Products Merger Sub, Inc., a wholly-owned subsidiary of Campbell’s (“Merger Sub”). Upon the terms and subject to the conditions stated in the Merger Agreement, Merger Sub will merge with and into the Company (the “Merger”), and the Company will become a wholly owned subsidiary of Campbell’s. The Company’s board of directors (the “Company Board”) and the board of directors of Campbell’s approved the Merger Agreement and the transactions contemplated therein. Pursuant to the Merger Agreement, at the effective time of the Merger (“Effective Time”), each issued and outstanding share of the Company’s common stock (“Company Stock”), except for certain shares of Company Stock specified in the Merger Agreement, will be canceled and automatically converted into the right to receive (i) $23.00 per share, and (ii) if the Merger is not effective by May 7, 2024, an additional $0.00182 per day beginning May 8, 2024, up to but excluding the date the Merger becomes effective. Upon consummation of the Merger, Sovos Brands, Inc. will cease to be a publicly traded company and its common stock will be delisted from Nasdaq. During the 13 weeks ended September 30, 2023, the Company incurred expenses of approximately $10.8 million in connection with the pending Merger, including $7.2 million for legal and other third-party advisors, $2.9 million for retention awards and $0.7 million for certain other Merger-related costs. During the 39 weeks ended September 30, 2023, the Company incurred expenses of approximately $11.4 million in connection with the pending Merger, including $7.8 million for legal and other third-party advisors, $2.9 million for retention awards and $0.7 million for certain other Merger-related costs. See Note 19. Subsequent Events ​ ​ Basis of Presentation The condensed consolidated financial statements include the accounts of the Company and its subsidiaries and have been prepared in conformity with United States Generally Accepted Accounting Principles (“GAAP”) and the rules and regulations of the Securities and Exchange Commission (the “SEC”). All intercompany balances and transactions have been eliminated. The condensed 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. Unaudited Interim Condensed Consolidated Financial Statements The interim condensed consolidated financial statements and related notes of the Company and its subsidiaries are unaudited. The unaudited interim condensed consolidated financial statements reflect all adjustments and disclosures which are, in our opinion, necessary for a fair presentation of the results of operations, financial position and cash flows for the indicated periods. All such adjustments were of a normal and recurring nature. The year-end balance sheet data was derived from the audited financial statements and, in accordance with the instructions to Form 10-Q, certain information and footnote disclosures required by GAAP have been condensed or omitted. The results reported in these unaudited interim condensed consolidated financial statements are not necessarily indicative of the results that may be reported for the entire fiscal year and should be read in conjunction with our consolidated financial statements for the fiscal year ended December 31, 2022, included in our Annual Report on Form 10-K, filed with the SEC on March 8, 2023 (“2022 Form 10-K”).

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2023
Summary of Significant Accounting Policies
Summary of Significant Accounting Policies	Note There have been no material changes in the Company’s significant accounting policies as compared to the significant accounting policies described in Note 2. Summary of Significant Accounting Policies New Accounting Pronouncements and Policies 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. ​ No other new accounting pronouncements issued or effective during the quarter had or is expected to have a material impact on the Company’s consolidated financial statements. ​

Loss on Asset Sale

Loss on Asset Sale	9 Months Ended
	Sep. 30, 2023
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) ​

Revenue Recognition

Revenue Recognition	9 Months Ended
	Sep. 30, 2023
Revenue Recognition
Revenue Recognition	Note 4. Revenue Recognition Revenue disaggregated by brand is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 13 Weeks Ended ​ 39 Weeks Ended (In thousands) September 30, 2023 September 24, 2022 September 30, 2023 September 24, 2022 Rao’s ​ $ 196,294 ​ $ 135,189 ​ $ 540,373 ​ $ 392,399 Noosa ​ 42,950 ​ 42,703 ​ 136,220 ​ 132,102 Michael Angelo’s ​ 18,723 ​ 21,269 ​ 52,948 ​ 61,251 Birch Benders ​ (23) ​ 9,746 ​ (1,171) ​ 30,521 Total net sales ​ $ 257,944 ​ $ 208,907 ​ $ 728,370 ​ $ 616,273 ​ The activity for Birch Benders

Inventories, Net

Inventories, Net	9 Months Ended
	Sep. 30, 2023
Inventories, Net
Inventories, Net	Note 5. Inventories, Net ​ ​ Inventories, net consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) September 30, 2023 December 31, 2022 Finished goods ​ $ 67,446 ​ $ 76,404 Raw materials and packaging supplies ​ 13,183 ​ 16,198 Total inventories, net ​ $ 80,629 ​ $ 92,602 ​

Goodwill

Goodwill	9 Months Ended
	Sep. 30, 2023
Goodwill.
Goodwill	Note 6. Goodwill There were no changes in the carrying value or impairment charges related to goodwill during the 13 weeks or 39 weeks ended September 30, 2023 or during the 13 weeks ended September 24, 2022. In the second quarter of 2022, the Company identified the underperformance of the Birch Benders

Intangible Assets, Net

Intangible Assets, Net	9 Months Ended
	Sep. 30, 2023
Intangible Assets, Net
Intangible Assets, Net	Note 7. Intangible Assets, Net Intangible asset, net, consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2023 ​ ​ Gross carrying ​ Accumulated ​ Net carrying (In thousands) ​ amount ​ amortization ​ amount Intangible assets - definite lives ​ ​ ​ ​ ​ Customer relationships ​ $ 207,300 ​ $ 101,771 ​ $ 105,529 Tradename ​ 101,747 ​ 25,548 ​ 76,199 ​ ​ ​ 309,047 ​ ​ 127,319 ​ ​ 181,728 Intangible assets - indefinite lives ​ ​ ​ ​ Tradename ​ ​ 153,000 ​ ​ — ​ ​ 153,000 Total intangible assets ​ $ 462,047 ​ $ 127,319 ​ $ 334,728 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 ​ In connection with the divestiture of the Birch Benders Loss on Asset Sale Amortization expense related to intangible assets during the 13 weeks ended September 30, 2023 and September 24, 2022 was $5.6 million and $6.8 million, respectively. Amortization expense related to intangible assets during the 39 weeks ended September 30, 2023 and September 24, 2022 was $16.8 million and $20.4 million, respectively. There were no impairment charges related to intangible assets during the 13 weeks or 39 weeks ended September 30, 2023. Estimated total intangible amortization expense during the next five fiscal years and thereafter is as follows: ​ ​ ​ ​ ​ (In thousands) Amortization Remainder of 2023 ​ $ 5,606 2024 ​ 22,425 2025 ​ 22,425 2026 ​ 22,425 2027 ​ 17,782 Thereafter ​ 91,065 Total ​ $ 181,728 ​

Accrued Expenses

Accrued Expenses	9 Months Ended
	Sep. 30, 2023
Accrued Expenses
Accrued Expenses	Note 8. Accrued Expenses ​ Accrued expenses consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) September 30, 2023 December 31, 2022 Accrued trade ​ $ 26,749 ​ $ 32,337 Accrued compensation and benefits ​ 22,265 ​ 17,328 Accrued general expense ​ 13,947 ​ 13,376 Accrued interest payable ​ 7,562 ​ 6,530 Total accrued expenses ​ $ 70,523 ​ $ 69,571 ​ The presentation of previously reported accrued expense categories has been changed to conform to the current year presentation. There was no change to total accrued expenses as of December 31, 2022. ​

Long-Term Debt

Long-Term Debt	9 Months Ended
	Sep. 30, 2023
Long-Term Debt
Long-Term Debt	Note 9. Long-Term Debt Long-term debt consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2023 ​ ​ ​ ​ ​ Unamortized ​ ​ ​ ​ ​ ​ ​ ​ debt issuance ​ ​ ​ (In thousands) ​ Principal ​ costs ​ Total debt, net Initial First Lien Term Loan Facility $ 480,800 $ (4,620) $ 476,180 Finance lease liabilities ​ ​ 7,610 ​ ​ ​ ​ 7,610 Total debt ​ $ 488,410 ​ $ (4,620) ​ ​ 483,790 Less: current portion of finance lease liabilities ​ ​ ​ ​ ​ ​ ​ 202 Total long-term debt ​ ​ ​ ​ ​ $ 483,588 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 ​ Senior Debt In June 2021, Sovos Brands Intermediate, Inc. (“Sovos Intermediate”) Sovos Intermediate The Initial First Lien Term Loan Facility was issued with a discount of $1.5 million and the Company paid debt issuance costs of $6.8 million. The discounts and debt issuance costs paid on the Initial First Lien Term Loan 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 debt issuance costs on a previous Revolving Line of Credit over the new life of the debt, and paid $1.1 million in debt issuance costs for the new Revolving Facility, which was capitalized. In 2021, the Company prepaid $99.2 million of the outstanding principal balance under the Initial First Lien Term Loan Facility. 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 $99.2 million prepayment, is $480.8 million. The Company has directed Credit Suisse to apply the prepayment 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 $0.3 million and $0.3 million for the 13 weeks ended September 30, 2023 and September 24, 2022, respectively, and $0.9 and $0.9 million for the 39 weeks ended September 30, 2023 and September 24, 2022, respectively, is included within interest expense, net in the Condensed Consolidated Statements of Operations. On June 28, 2023, Sovos Intermediate amended the First Lien Credit Agreement. Going forward, the amended First Lien Credit Agreement (“Amended First Lien Credit Agreement”) replaces the London Inter-Bank Offered Rate (“LIBO Rate”) for loans denominated in dollars with a successor rate based on Term Secured Overnight Financing Rate (“Term SOFR”). The interest rate for the Initial First Lien Term Loan Facility and Revolving Facility is LIBO Rate (the “base 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 initial public offering ("IPO"). In no event shall 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. As of June 28, 2023, Term SOFR replaced the LIBO Rate as the base rate for loans denominated in dollars. However, to the extent any LIBO Rate loan denominated in dollars was outstanding on June 28, 2023, such loan continued to bear interest at the LIBO Rate until the end of the interest period or payment period applicable to such loan and such loan was governed by the terms of First Lien Credit Agreement applicable to LIBO Rate loans denominated in dollars until the earlier of (i) the repayment of such loans or (ii) the conversion of such loans into Term SOFR loans or ABR loans. Effective as of June 28, 2023, a credit spread adjustment (0.11448% per annum for one month tenor, 0.26161% per annum for a three month tenor, 0.42826% per annum for a six month tenor and 0.71513% per annum for a twelve month tenor) shall apply to Term SOFR loans pursuant to the Amended First Lien Credit Agreement. ​ 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 the assets of the Company. On December 30, 2022, Sovos Intermediate and Birch Benders, LLC, a Delaware limited liability company (renamed Aidaca, LLC), sold the Birch Benders The Company had available credit of $125.0 million under the Revolving Facility as of September 30, 2023 and December 31, 2022, respectively. There was zero outstanding on the Revolving Facility as of September 30, 2023 and December 31, 2022. As of September 30, 2023 and December 31, 2022, the effective interest rate for the Initial First Lien Term Loan Facility and Revolving Facility was 9.13% and 7.91%, respectively. Loan Covenants In connection with the Amended First Lien Credit Agreement, the Company has various financial, affirmative and negative covenants that it must adhere to as specified within the loan agreement. The Amended 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 Amended 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. As of September 30, 2023, the Company had no outstanding revolving loans and therefore was not required to test the financial covenant under the Amended First Lien Credit Agreement. In addition, under the Amended 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. See Note 10. Leases Related Party Transactions

Leases

Leases	9 Months Ended
	Sep. 30, 2023
Leases
Leases	Note 10. Leases The Company leases real estate in the form of distribution centers, manufacturing facilities, equipment and office space. Generally, the term for real estate leases ranges from 2 to 10 years at inception of the contract. Generally, the term for equipment leases is 5 years at inception of the contract. Most manufacturing facilities and office space leases include one or more options to renew, with renewal terms that generally can extend the lease term from 2 to 30 years. The exercise of lease renewal options is at the Company’s discretion. Operating and finance lease costs are included within Cost of sales and Selling, general and administrative expenses in the Condensed Consolidated Statements of Operations. Sublease income was not material for the periods presented. The components of lease expense were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 13 Weeks Ended ​ 39 Weeks Ended (In thousands) ​ Statement of Operations Caption ​ September 30, 2023 ​ September 24, 2022 ​ September 30, 2023 ​ September 24, 2022 Operating lease cost: ​ ​ ​ ​ ​ ​ ​ ​ Lease cost Cost of sales and Selling, general and administrative ​ $ 809 ​ $ 823 ​ $ 2,430 ​ $ 2,502 Variable lease cost (1) Cost of sales and Selling, general and administrative ​ 8,039 ​ ​ 379 ​ 13,797 ​ 1,099 Total operating lease cost ​ ​ 8,848 ​ ​ 1,202 ​ 16,227 ​ 3,601 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Short term lease cost Cost of sales and Selling, general and administrative ​ 68 ​ ​ 81 ​ 177 ​ 177 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Finance lease cost: ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortization of right-of-use assets Cost of sales and Selling, general and administrative ​ 78 ​ ​ 66 ​ 208 ​ 196 Interest on lease liabilities Interest expense, net ​ 159 ​ ​ 132 ​ 423 ​ 397 Total finance lease cost ​ ​ 237 ​ ​ 198 ​ 631 ​ 593 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total lease cost ​ ​ ​ $ 9,153 ​ $ 1,481 ​ $ 17,035 ​ $ 4,371 (1) Variable lease cost primarily consists of the cost of inventory sold under a manufacturing and supply agreement, as well as 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 ​ September 30, 2023 ​ December 31, 2022 Assets ​ ​ Operating lease right-of-use assets Operating lease right-of-use assets ​ $ 11,482 ​ $ 13,332 Finance lease right-of-use assets Property and equipment, net ​ 6,463 ​ 6,038 Total lease assets ​ ​ $ 17,945 ​ $ 19,370 ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities ​ ​ Current: ​ ​ ​ ​ ​ ​ ​ ​ Operating lease liabilities ​ Current portion of long-term operating lease liabilities ​ $ 3,045 ​ $ 3,308 Finance lease liabilities ​ Current portion of long-term debt ​ ​ 202 ​ ​ 99 Long-term: ​ ​ ​ ​ ​ ​ ​ ​ Operating lease liabilities Long-term operating lease liabilities ​ 11,867 ​ 14,063 Finance lease liabilities Long-term debt, net of debt issuance costs ​ 7,408 ​ 6,918 Total lease liabilities ​ ​ $ 22,522 ​ $ 24,388 ​ The weighted-average remaining lease term and weighted-average discount rate for operating and finance leases were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2023 December 31, 2022 Weighted-average remaining lease term (in years): ​ ​ ​ ​ ​ Operating leases ​ 6.0 ​ ​ 6.4 ​ Finance leases ​ 32.5 ​ ​ 34.2 ​ Weighted-average discount rate ​ ​ ​ ​ ​ ​ Operating leases ​ 5.0 % ​ 4.9 % Finance leases 7.8 % ​ 7.8 % ​ Future maturities of lease liabilities as of September 30, 2023, were as follows: ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) Operating Leases Finance Leases Fiscal year ending: ​ ​ Remainder of 2023 ​ $ 1,023 ​ $ 195 2024 ​ 3,493 ​ 727 2025 ​ 2,982 ​ 671 2026 ​ 3,005 ​ 574 2027 ​ 3,064 ​ 551 Thereafter ​ 3,856 ​ 19,346 Total lease payments ​ 17,423 ​ 22,064 Less: Interest ​ (2,511) ​ (14,454) Present value of lease liabilities ​ $ 14,912 ​ $ 7,610 ​ As of September 30, 2023, 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: ​ ​ ​ ​ ​ ​ ​ ​ ​ 39 Weeks Ended (In thousands) ​ September 30, 2023 ​ September 24, 2022 Cash paid for amounts included in the measurement of lease liabilities ​ ​ Operating cash flows from operating leases ​ $ 3,039 ​ $ 3,042 Operating cash flows from finance leases ​ 423 ​ 397 Financing cash flows from finance leases ​ ​ 73 ​ ​ 59 Lease liabilities arising from lease right-of-use assets ​ ​ ​ ​ ​ ​ Finance leases ​ ​ 667 ​ ​ — Operating leases ​ ​ — ​ ​ 78 ​

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2023
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. As of September 30, 2023, the Company had outstanding minimum purchase commitments with five suppliers. The estimated annual minimum purchase commitments with the suppliers are as follows: ​ ​ ​ ​ ​ Fiscal Year Ending (In thousands) Remainder of 2023 ​ $ 1,907 2024 ​ 12,821 2025 ​ 392 2026 ​ — 2027 ​ — Thereafter ​ — Total ​ $ 15,120 ​ See Note 17. Related Party Transactions

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	Sep. 30, 2023
Fair Value of Financial Instruments
Fair Value of Financial Instruments	Note 12. Fair Value of Financial Instruments ASC 820, Fair Value Measurements and Disclosures 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 Condensed 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 Condensed 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 September 30, 2023 and December 31, 2022, 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 is 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 us 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 September 30, 2023 and December 31, 2022 were classified as Level 2 of the fair value hierarchy. The tables below present the Company’s assets and liabilities measured at fair value on a recurring basis aggregated by the level in the fair value hierarchy within which those measurements fall. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of September 30, 2023 ​ ​ 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 September 30, 2023 Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivatives in cash flow hedging relationships ​ ​ $ — ​ $ 3,251 ​ $ — ​ $ 3,251 Total assets ​ ​ $ — ​ $ 3,251 ​ $ — ​ $ 3,251 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivatives not designated as hedging instruments ​ ​ $ — ​ $ 1,311 ​ $ — ​ $ 1,311 Total liabilities ​ ​ $ — ​ $ 1,311 ​ $ — ​ $ 1,311 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2022 ​ ​ 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 September 30, 2023. These estimates are not necessarily indicative of the amounts we could ultimately realize. See Note 13. 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. ​ There were no transfers of financial instruments between the three levels of fair value hierarchy during the 39 weeks ended September 30, 2023 and the fiscal year ended December 31, 2022.

Hedging and Derivative Financia

Hedging and Derivative Financial Instruments	9 Months Ended
	Sep. 30, 2023
Hedging and Derivative Financial Instruments
Hedging and Derivative Financial Instruments	Note 13. 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 risks managed by the Company through the use of derivative instruments are 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 Condensed 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 12. 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 13 weeks and 39 weeks ended September 30, 2023, 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 other comprehensive income (loss) (“OCI”) in the Condensed Consolidated Statements of Other Comprehensive Income (Loss) 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 $2.3 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 debt under the Initial First Lien Term Loan Facility. As of June 28, 2023, in conjunction with the cessation of LIBOR, the floating-rate index on the LIBOR interest rate cap agreement (the “LIBOR Cap Agreement”) became USD-SOFR Compound plus the applicable ISDA Fallback rate for the tenor (in accordance with the ISDA Fallbacks Protocol), subject to the expiration of the existing tenor. No other critical items were amended. The LIBOR Cap Agreement (now the “SOFR Cap Agreement”) is designated for cash flow hedge accounting with all changes in fair value deferred into accumulated OCI. As of September 30, 2023, the Company’s SOFR Cap Agreement had a total hedged notional amount of $240.0 million that was designated as a cash flow hedge of interest rate risk with a strike price of 4.00% and a maturity date of July 31, 2024. ​ Within the Company’s Condensed 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 Condensed 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 $331.9 million and $145.7 million as of September 30, 2023 and December 31, 2022, respectively. As of September 30, 2023, the Company’s foreign currency hedges to offset the earnings impact of foreign currency exchange rates extend through August 2024. ​ 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 Condensed Consolidated Statements of Operations. Within the Company’s Condensed 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 Condensed Consolidated Statements of Cash Flows. ​ The following table presents the fair values of the Company’s derivative instruments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2023 ​ December 31, 2022 (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 ​ $ — ​ $ 1,311 ​ $ — ​ $ 33 Total derivatives not designated as hedging instruments ​ ​ ​ $ — ​ $ 1,311 ​ $ — ​ $ 33 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivatives designated as hedging instruments under Subtopic 815-20 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate caps - short term ​ Prepaid expenses and other current assets ​ $ 3,251 ​ $ — ​ $ 1,997 ​ $ — Interest rate caps - long term ​ Other long-term assets ​ ​ — ​ ​ — ​ ​ 1,631 ​ ​ — Total derivatives designated as hedging instruments ​ ​ ​ $ 3,251 ​ $ — ​ $ 3,628 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total derivatives ​ ​ ​ $ 3,251 ​ $ 1,311 ​ $ 3,628 ​ $ 33 (1) Derivative instruments within this category are subject to master netting arrangements and are presented on a net basis in the Condensed 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 (Loss) Recognized in OCI ​ ​ 13 Weeks Ended ​ 39 Weeks Ended Derivatives in Subtopic 815-20 Hedging Relationships September 30, 2023 September 24, 2022 September 30, 2023 September 24, 2022 Derivatives in cash flow hedging relationships ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate caps ​ $ 227 ​ $ (1,785) ​ $ 1,640 ​ $ (1,785) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income ​ ​ 13 Weeks Ended ​ ​ 39 Weeks Ended Location of Gain or (Loss) Reclassified from Accumulated OCI into Income ​ September 30, 2023 September 24, 2022 September 30, 2023 September 24, 2022 Derivatives in cash flow hedging relationships ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest expense, net ​ $ 648 ​ $ — ​ $ 1,370 ​ $ — ​ ​ ​ The following table presents the effect of the Company’s derivative financial instruments on the Condensed Consolidated Statements of Operations for the periods presented: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gain (Loss) Recognized ​ ​ ​ ​ 13 Weeks Ended ​ 39 Weeks Ended ​ ​ ​ ​ September 30, ​ September 24, ​ ​ September 30, ​ September 24, (In thousands) Statement of Operations Location 2023 2022 2023 2022 Total amounts of expense presented in the Statements of Operations in which the derivatives not designated as hedging are recorded ​ Selling, general and administrative ​ $ 58,471 ​ $ 43,965 ​ ​ $ 149,518 ​ $ 117,329 The effects of derivatives not designated as hedging instruments under Subtopic 815-20: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency contracts ​ Selling, general and administrative ​ (1,080) ​ (2,758) ​ ​ (1,278) ​ (3,255) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total amounts of expense presented in the Statements of Operations in which the derivatives designated as hedging are recorded ​ Interest expense, net ​ 8,621 ​ 6,679 ​ ​ 26,000 ​ 18,414 The effects of derivatives designated as hedging instruments under Subtopic 815-20: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate caps ​ Interest expense, net ​ 648 ​ — ​ ​ 1,370 ​ — ​ ​ 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 Condensed 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 September 30, 2023 and December 31, 2022. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Offsetting of Derivative Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of September 30, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross Amounts Not Offset in the Balance Sheet ​ ​ ​ (In thousands) 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 Net Amount Derivatives ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency contracts ​ $ 128 ​ $ (128) ​ $ — ​ $ — ​ $ — ​ $ — Total derivatives, subject to a master netting arrangement ​ ​ 128 ​ ​ (128) ​ ​ — ​ ​ — ​ ​ — ​ ​ — Total derivatives, not subject to a master netting arrangement ​ ​ 3,251 ​ ​ — ​ ​ 3,251 ​ ​ — ​ ​ — ​ ​ 3,251 Total derivatives ​ $ 3,379 ​ $ (128) ​ $ 3,251 ​ $ — ​ $ — ​ $ 3,251 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Offsetting of Derivative Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of September 30, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross Amounts Not Offset in the Balance Sheet ​ ​ ​ (In thousands) 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 ​ $ (1,439) ​ $ 128 ​ $ (1,311) ​ $ — ​ $ — ​ $ (1,311) Total derivatives, subject to a master netting arrangement ​ ​ (1,439) ​ ​ 128 ​ ​ (1,311) ​ ​ — ​ ​ — ​ ​ (1,311) Total derivatives, not subject to a master netting arrangement ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Total derivatives ​ $ (1,439) ​ $ 128 ​ $ (1,311) ​ $ — ​ $ — ​ $ (1,311) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Offsetting of Derivative Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross Amounts Not Offset in the Balance Sheet ​ ​ ​ (In thousands) 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 Net Amount 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 ​ ​ — ​ ​ — ​ ​ 3,628 Total derivatives ​ $ 3,684 ​ $ (56) ​ $ 3,628 ​ $ — ​ $ — ​ $ 3,628 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Offsetting of Derivative Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross Amounts Not Offset in the Balance Sheet ​ ​ ​ (In thousands) 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	9 Months Ended
	Sep. 30, 2023
Stockholders' Equity
Stockholders' Equity	Note 14. Stockholders’ Equity Common Stock Prior to the IPO, the Company had a total of 74,058,447 shares issued and outstanding . 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. ​ On May 15, 2023, the Company completed a secondary offering, in which the Selling Stockholders sold 10,000,000 shares of common stock in an underwritten public offering at an offering price of $17.50 per share, with all proceeds going to the Selling Stockholders. Subsequent to the secondary offering, the underwriters exercised their option to purchase an additional 1,500,000 shares of common stock, and the sale of such additional shares closed on May 17, 2023, with all proceeds going to the Selling Stockholders. 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. There were no shares of preferred stock issued and outstanding as of September 30, 2023 and December 31, 2022.

Equity-Based Compensation

Equity-Based Compensation	9 Months Ended
	Sep. 30, 2023
Equity-Based Compensation.
Equity-Based Compensation	Note 15. Equity-Based Compensation 2017 Equity Incentive Plan In 2017, the Sovos Brands Limited Partnership (the “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. 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. 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. Restricted Common Stock 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 multiple of invested capital (“MOIC”) 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, the 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 an incremental modified grant date fair value of approximately $6.1 million. On February 10, 2023, 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 these modifications, a portion of the shares that would have vested based upon a 3.0 MOIC or a 4.0 MOIC (including any related linear interpolation, the “Original Vesting Criteria”) instead vest 50% on September 23, 2024 and 50% on September 23, 2025, or upon achievement of the Original Vesting Criteria, if earlier. The fair value of the modified performance-based restricted stock awards was calculated 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, resulting in an incremental modified grant date fair value of approximately $5.5 million. As of September 30, 2023, 1,790 shares of restricted common stock resulting from the distribution of common stock with respect to nonvested time-based IUs will vest upon fulfilling time-based service conditions and are scheduled to vest through July 2024. As of September 30, 2023, there were 1,839,669 shares of restricted common stock resulting from the distribution with respect to nonvested performance-based IUs, of which 169,698 shares will vest on the earlier of December 30, 2023 or when the original performance condition is achieved, 509,210 shares will vest on the earlier of when the original performance condition is achieved or 50% on September 23, 2024 and 50% on September 23, 2025 and the remaining 1,160,761 shares will vest only if certain performance conditions, including exceeding various levels, are achieved. S to the Limited Partnership. 2021 Equity Incentive Plan Effective September 21, 2021, the Company adopted the 2021 Equity Incentive Plan (the “2021 Plan”) which originally reserved 9,739,244 shares of common stock to grant stock options, stock appreciation rights, restricted stock awards, restricted stock units or equity-based awards to eligible employees, consultants and non-employee directors. All 2021 Plan awards, including those described below, are subject in general to the employee’s, consultant’s or non-employee director’s continued service through the vesting date. Additionally, following a change in control, 2021 Plan awards vest in full in the event of certain terminations of service. Restricted Stock Units During the 39 weeks ended September 30, 2023, the Company granted 489,877 RSUs to certain employees and non-employee directors. The RSUs included (i) 359,909 RSUs issued to employees with each award vesting in two equal annual installments, (ii) 94,964 RSUs issued to an employee vesting in three equal annual installments, (iii) 5,344 RSUs issued to an independent contractor vesting in one year, and (iv) 29,660 RSUs issued to non-employee directors that vest on the earlier of the first anniversary of the grant and immediately prior to our 2024 annual meeting of stockholders. During the 39 weeks ended September 24, 2022, the Company granted 708,682 RSUs to certain employees and non-employee directors. The RSUs included (i) 604,833 RSUs issued to employees with each award vesting in two equal annual installments, (ii) 76,039 RSUs issued to an employee vesting in three equal annual installments, and (iii) 27,810 RSUs issued to non-employee directors that vested on the earlier of the first anniversary of the grant and immediately prior to our 2023 annual meeting of stockholders. Performance-based Restricted Stock Units In connection with the IPO and under the 2021 Plan, the Company granted 687,690 performance-based restricted stock units (“PSUs”) to certain employees with each award vesting subject in general to the achievement of the performance condition. 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. On February 10, 2023, the Company modified the IPO PSUs dated September 23, 2021. As a result of this modification, the shares that would have vested based upon the achievement of a performance condition that measures the Total Shareholder Return (“TSR”) (the “Original Vesting Criteria”) instead vest 50% on September 23, 2024 and 50% on September 23, 2025, or upon achievement of the Original Vesting Criteria, if earlier. The fair value of the modified PSUs was calculated 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, resulting in an incremental modified grant date fair value of approximately $4.3 million. During the 39 weeks ended September 30, 2023 and September 24, 2022, the Company granted 470,048 PSUs and 343,800 PSUs, respectively, to employees with each award vesting subject in general to the achievement of a performance condition that measures the 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 100% vesting upon achievement of target performance, with straight-line interpolation applied. The fair value of the PSUs granted during the 39 weeks ended September 30, 2023 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 September 30, 2023, there was an aggregate of 6,274,450 shares of common stock available for future equity awards under the 2021 Plan (treating PSUs that vest based on relative TSR at the 100% target level). 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 Condensed Consolidated Statements of Operations. The following table summarizes the equity-based compensation expense recognized for the Company’s equity plans: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 13 Weeks Ended 39 Weeks Ended (In thousands) ​ September 30, 2023 ​ September 24, 2022 September 30, 2023 ​ September 24, 2022 Equity awards under the 2017 Plan (Pre-IPO) ​ ​ ​ ​ ​ RSAs ​ $ 130 ​ $ 279 ​ $ 403 ​ $ 927 PSAs ​ 1,782 ​ 1,663 ​ 5,181 ​ 4,887 Total equity-based compensation expense for the 2017 Plan ​ ​ 1,912 ​ ​ 1,942 ​ ​ 5,584 ​ ​ 5,814 Equity awards under the 2021 Plan (Post-IPO) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ RSUs ​ ​ 3,384 ​ ​ 1,856 ​ ​ 9,726 ​ ​ 5,123 PSUs ​ ​ 1,071 ​ ​ 808 ​ ​ 2,984 ​ ​ 2,303 Total equity-based compensation expense for the 2021 Plan ​ ​ 4,455 ​ ​ 2,664 ​ ​ 12,710 ​ ​ 7,426 Total equity-based compensation expense ​ $ 6,367 ​ $ 4,606 ​ $ 18,294 ​ $ 13,240 ​ The Company expects to record equity-based compensation expense of approximately $32.3 million through the second quarter of 2026 resulting from the issuance of the RSAs and PSAs under the 2017 Plan and RSUs and PSUs under the 2021 Plan.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2023
Income Taxes
Income Taxes	Note 16. Income Taxes The income tax (expense) benefit and the effective tax rate resulting from operations were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 13 Weeks Ended ​ 39 Weeks Ended ​ (In thousands) ​ September 30, 2023 ​ September 24, 2022 ​ September 30, 2023 ​ September 24, 2022 Income (loss) before income taxes $ 3,362 $ 3,964 ​ $ 24,471 $ (28,659) ​ Effective income tax (expense) benefit ​ $ (1,936) ​ $ (2,500) ​ ​ $ (9,810) ​ $ 3,895 ​ Effective tax rate ​ 57.6 % 63.1 % ​ 40.1 % 13.6 % ​ The effective tax rates for the 13 weeks and 39 weeks ended September 30, 2023 and September 24, 2022 differ from the U.S. federal statutory income tax rate of 21% primarily due to changes in income (loss) before taxes, permanent items including limitation on the deduction of executive compensation for public companies and nondeductible equity-based compensation and state taxes. The effective tax rate for the 39 weeks ended September 24, 2022 was also impacted by a goodwill impairment charge that resulted in a large discrete benefit recorded in the second quarter of fiscal 2022.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2023
Related Party Transactions
Related Party Transactions	Note 17. 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 Robert L. Graves, a former member of the Board of Directors (“Board”) and a current equity holder 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. In September 2023, an amendment to the facility lease was executed to allow for use of additional space, effective as of January 1, 2022. The Company made a cash payment of $44 thousand to Morning Fresh for amounts due on rent and its proportionate share of utilities, taxes and insurance for the period between the effective date and execution of the amendment. As of September 30, 2023, the facility has a lease liability balance of $6.9 million which is primarily recognized as long-term debt in our Condensed Consolidated Balance Sheets. As of September 30, 2023, the land lease has a liability balance of $0.5 million which is primarily recognized as long-term operating lease liabilities in our Condensed Consolidated Balance Sheets. The facility and land lease contained total payments of approximately $194 thousand and $144 thousand for the 13 weeks ended September 30, 2023 and September 24, 2022, respectively, and $499 thousand and $429 thousand for the 39 weeks ended September 30, 2023 and September 24, 2022, respectively. In addition, $56 thousand and $45 thousand was paid for the 13 weeks ended September 30, 2023 and September 24, 2022, respectively, and $165 thousand and $136 thousand was paid for the 39 weeks ended September 30, 2023 and September 24, 2022, 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: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 13 Weeks Ended 39 Weeks Ended (In thousands) ​ September 30, 2023 ​ September 24, 2022 ​ September 30, 2023 ​ September 24, 2022 Sales ​ $ 104 ​ $ 136 ​ $ 347 ​ $ 377 Purchases ​ $ 1,587 ​ $ 2,174 ​ $ 5,424 ​ $ 6,440 ​ Amounts outstanding in respect to Morning Fresh transactions were as follows: ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) September 30, 2023 December 31, 2022 Receivables ​ $ 28 ​ $ 29 Payables ​ $ 777 ​ $ 870 ​ The Company has a milk supply agreement with Morning Fresh (“Milk Supply Agreement”) for a base term ending December 31, 2027, with the option available for extension for a total of fifteen additional 2-year As of September 30, 2023, the estimated annual minimum commitments with Morning Fresh for milk purchases and capital improvements are as follows: ​ ​ ​ ​ ​ Fiscal Year Ending (In thousands) Remainder of 2023 ​ $ 2,035 2024 ​ ​ 8,375 2025 ​ ​ 8,375 2026 ​ ​ 8,375 2027 ​ ​ 8,375 Thereafter ​ ​ — Total ​ $ 35,535 ​ In May 2023, we entered into a consulting agreement with Mr. Graves. The consulting agreement has a term of three years and stipulates that, in exchange for providing advice and support with respect to water treatment and other operational systems, the Company will pay Mr. Graves $100 thousand per year. Additionally, pursuant to the consulting agreement, in June 2023 the Company granted a one-time RSU equity award to Mr. Graves with a grant date fair value of $100 thousand. ​ Advent International Corporation (“Advent”) is a private equity firm which has invested funds in our common stock. 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. The Company pays legal expenses and tax compliance fees on behalf of the Limited Partnership and carries a balance within other long-term assets that reflects the amount due from the Limited Partnership. As of September 30, 2023 and December 31, 2022, the receivable balance was $0.1 million and $0.1 million, respectively.

Earnings (Loss) Per Share

Earnings (Loss) Per Share	9 Months Ended
	Sep. 30, 2023
Earnings (Loss) Per Share
Earnings (Loss) Per Share	Note 18. Earnings (Loss) Per Share Basic earnings 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 Company reported a net loss for the 39 weeks ended September 24, 2022, and therefore excluded 325,102 shares from the calculation of diluted EPS for that period. The following table presents the computation of EPS for the 13 weeks and 39 weeks ended September 30, 2023 and September 24, 2022. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 13 Weeks Ended ​ 39 Weeks Ended (In thousands, except share and per share amounts) September 30, 2023 September 24, 2022 September 30, 2023 September 24, 2022 Net income (loss) ​ $ 1,426 ​ $ 1,464 ​ $ 14,661 ​ $ (24,764) ​ ​ ​ ​ ​ ​ ​ Weighted average basic common shares outstanding ​ 101,327,970 ​ ​ 100,913,121 ​ ​ 101,259,880 ​ ​ 100,901,161 Effect of dilutive securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Restricted stock units ​ 1,394,767 ​ 476,939 ​ 903,171 ​ — Performance stock units ​ 1,052,527 ​ ​ 223,868 ​ ​ 688,548 ​ ​ — Total dilutive securities ​ ​ 2,447,294 ​ ​ 700,807 ​ ​ 1,591,719 ​ ​ — Weighted average and potential dilutive common shares outstanding ​ ​ 103,775,264 ​ ​ 101,613,928 ​ ​ 102,851,599 ​ ​ 100,901,161 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Earnings (loss) per share ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic ​ $ 0.01 ​ $ 0.01 ​ $ 0.14 ​ $ (0.25) Diluted ​ $ 0.01 ​ $ 0.01 ​ $ 0.14 ​ $ (0.25) ​ For the 13 weeks ended September 30, 2023, 4,147 RSUs and no PSUs were outstanding but were excluded in the computation of diluted EPS because these RSUs and PSUs were considered to be anti-dilutive based on the result of the treasury stock method calculation for incremental shares. For the 13 weeks ended September 24, 2022, there were no shares considered to be anti-dilutive based on the result of the treasury stock method calculation for incremental shares. ​ For the 39 weeks ended September 30, 2023, 4,147 RSUs and no PSUs were outstanding but were excluded in the computation of diluted EPS because these RSUs were considered to be anti-dilutive based on the result of the treasury stock method calculation for incremental shares. For the 39 weeks ended September 24, 2022, there were 177 shares considered to be anti-dilutive based on the result of the treasury stock method calculation for incremental shares. ​

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2023
Subsequent Events
Subsequent Events	Note 19. Subsequent Events On October 16, 2023, at a special meeting of the Company’s stockholders, the proposal to adopt the Merger Agreement was approved. The closing of the transaction remains subject to various closing conditions, including regulatory approval. On October 23, 2023, the Company and Campbell’s each received a request for additional information (the “Second Request”) from the U.S. Federal Trade Commission (the “FTC”) in connection with the FTC’s review of the transactions contemplated by the Merger Agreement. Issuance of the Second Request extends the waiting period under the the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, until 30 days after both the Company and Campbell’s substantially comply with the Second Request, unless the waiting period is extended voluntarily by the parties or terminated earlier by the FTC. The Company now expects that the Merger will close in 2024, and the Company will continue to engage with the FTC on its review with the objective of closing the Merger in mid-2024.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2023
Summary of Significant Accounting Policies
New Accounting Pronouncements and Policies	New Accounting Pronouncements and Policies 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. ​ No other new accounting pronouncements issued or effective during the quarter had or is expected to have a material impact on the Company’s consolidated financial statements. ​

Loss on Asset Sale (Tables)

Loss on Asset Sale (Tables)	9 Months Ended
	Sep. 30, 2023
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)	9 Months Ended
	Sep. 30, 2023
Revenue Recognition
Schedule of revenue disaggregated	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 13 Weeks Ended ​ 39 Weeks Ended (In thousands) September 30, 2023 September 24, 2022 September 30, 2023 September 24, 2022 Rao’s ​ $ 196,294 ​ $ 135,189 ​ $ 540,373 ​ $ 392,399 Noosa ​ 42,950 ​ 42,703 ​ 136,220 ​ 132,102 Michael Angelo’s ​ 18,723 ​ 21,269 ​ 52,948 ​ 61,251 Birch Benders ​ (23) ​ 9,746 ​ (1,171) ​ 30,521 Total net sales ​ $ 257,944 ​ $ 208,907 ​ $ 728,370 ​ $ 616,273

Inventories, Net (Tables)

Inventories, Net (Tables)	9 Months Ended
	Sep. 30, 2023
Inventories, Net
Schedule of inventories	​ ​ ​ ​ ​ ​ ​ ​ (In thousands) September 30, 2023 December 31, 2022 Finished goods ​ $ 67,446 ​ $ 76,404 Raw materials and packaging supplies ​ 13,183 ​ 16,198 Total inventories, net ​ $ 80,629 ​ $ 92,602 ​

Intangible Assets, Net (Tables)

Intangible Assets, Net (Tables)	9 Months Ended
	Sep. 30, 2023
Intangible Assets, Net
Schedule of intangible assets net	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2023 ​ ​ Gross carrying ​ Accumulated ​ Net carrying (In thousands) ​ amount ​ amortization ​ amount Intangible assets - definite lives ​ ​ ​ ​ ​ Customer relationships ​ $ 207,300 ​ $ 101,771 ​ $ 105,529 Tradename ​ 101,747 ​ 25,548 ​ 76,199 ​ ​ ​ 309,047 ​ ​ 127,319 ​ ​ 181,728 Intangible assets - indefinite lives ​ ​ ​ ​ Tradename ​ ​ 153,000 ​ ​ — ​ ​ 153,000 Total intangible assets ​ $ 462,047 ​ $ 127,319 ​ $ 334,728 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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
Schedule of amortization expenses intangible assets net	​ ​ ​ ​ ​ (In thousands) Amortization Remainder of 2023 ​ $ 5,606 2024 ​ 22,425 2025 ​ 22,425 2026 ​ 22,425 2027 ​ 17,782 Thereafter ​ 91,065 Total ​ $ 181,728 ​

Accrued Expenses (Tables)

Accrued Expenses (Tables)	9 Months Ended
	Sep. 30, 2023
Accrued Expenses
Schedule of Accrued Expenses	​ ​ ​ ​ ​ ​ ​ ​ (In thousands) September 30, 2023 December 31, 2022 Accrued trade ​ $ 26,749 ​ $ 32,337 Accrued compensation and benefits ​ 22,265 ​ 17,328 Accrued general expense ​ 13,947 ​ 13,376 Accrued interest payable ​ 7,562 ​ 6,530 Total accrued expenses ​ $ 70,523 ​ $ 69,571

Long-Term Debt (Tables)

Long-Term Debt (Tables)	9 Months Ended
	Sep. 30, 2023
Long-Term Debt
Schedule of Long-term debt	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2023 ​ ​ ​ ​ ​ Unamortized ​ ​ ​ ​ ​ ​ ​ ​ debt issuance ​ ​ ​ (In thousands) ​ Principal ​ costs ​ Total debt, net Initial First Lien Term Loan Facility $ 480,800 $ (4,620) $ 476,180 Finance lease liabilities ​ ​ 7,610 ​ ​ ​ ​ 7,610 Total debt ​ $ 488,410 ​ $ (4,620) ​ ​ 483,790 Less: current portion of finance lease liabilities ​ ​ ​ ​ ​ ​ ​ 202 Total long-term debt ​ ​ ​ ​ ​ $ 483,588 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2023
Leases
Schedule of components of lease expense	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 13 Weeks Ended ​ 39 Weeks Ended (In thousands) ​ Statement of Operations Caption ​ September 30, 2023 ​ September 24, 2022 ​ September 30, 2023 ​ September 24, 2022 Operating lease cost: ​ ​ ​ ​ ​ ​ ​ ​ Lease cost Cost of sales and Selling, general and administrative ​ $ 809 ​ $ 823 ​ $ 2,430 ​ $ 2,502 Variable lease cost (1) Cost of sales and Selling, general and administrative ​ 8,039 ​ ​ 379 ​ 13,797 ​ 1,099 Total operating lease cost ​ ​ 8,848 ​ ​ 1,202 ​ 16,227 ​ 3,601 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Short term lease cost Cost of sales and Selling, general and administrative ​ 68 ​ ​ 81 ​ 177 ​ 177 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Finance lease cost: ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortization of right-of-use assets Cost of sales and Selling, general and administrative ​ 78 ​ ​ 66 ​ 208 ​ 196 Interest on lease liabilities Interest expense, net ​ 159 ​ ​ 132 ​ 423 ​ 397 Total finance lease cost ​ ​ 237 ​ ​ 198 ​ 631 ​ 593 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total lease cost ​ ​ ​ $ 9,153 ​ $ 1,481 ​ $ 17,035 ​ $ 4,371 (1) Variable lease cost primarily consists of the cost of inventory sold under a manufacturing and supply agreement, as well as common area maintenance, utilities, taxes and insurance.
Schedule of assets and liabilities related to both operating and finance leases	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ Balance Sheet Caption ​ September 30, 2023 ​ December 31, 2022 Assets ​ ​ Operating lease right-of-use assets Operating lease right-of-use assets ​ $ 11,482 ​ $ 13,332 Finance lease right-of-use assets Property and equipment, net ​ 6,463 ​ 6,038 Total lease assets ​ ​ $ 17,945 ​ $ 19,370 ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities ​ ​ Current: ​ ​ ​ ​ ​ ​ ​ ​ Operating lease liabilities ​ Current portion of long-term operating lease liabilities ​ $ 3,045 ​ $ 3,308 Finance lease liabilities ​ Current portion of long-term debt ​ ​ 202 ​ ​ 99 Long-term: ​ ​ ​ ​ ​ ​ ​ ​ Operating lease liabilities Long-term operating lease liabilities ​ 11,867 ​ 14,063 Finance lease liabilities Long-term debt, net of debt issuance costs ​ 7,408 ​ 6,918 Total lease liabilities ​ ​ $ 22,522 ​ $ 24,388
Schedule of weighted-average remaining lease term and weighted-average discount rate for operating and finance leases	​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2023 December 31, 2022 Weighted-average remaining lease term (in years): ​ ​ ​ ​ ​ Operating leases ​ 6.0 ​ ​ 6.4 ​ Finance leases ​ 32.5 ​ ​ 34.2 ​ Weighted-average discount rate ​ ​ ​ ​ ​ ​ Operating leases ​ 5.0 % ​ 4.9 % Finance leases 7.8 % ​ 7.8 %
Schedule of future minimum lease payments of operating leases	​ ​ ​ ​ ​ ​ ​ ​ (In thousands) Operating Leases Finance Leases Fiscal year ending: ​ ​ Remainder of 2023 ​ $ 1,023 ​ $ 195 2024 ​ 3,493 ​ 727 2025 ​ 2,982 ​ 671 2026 ​ 3,005 ​ 574 2027 ​ 3,064 ​ 551 Thereafter ​ 3,856 ​ 19,346 Total lease payments ​ 17,423 ​ 22,064 Less: Interest ​ (2,511) ​ (14,454) Present value of lease liabilities ​ $ 14,912 ​ $ 7,610
Schedule of future minimum lease payments of finance leases	​ ​ ​ ​ ​ ​ ​ ​ (In thousands) Operating Leases Finance Leases Fiscal year ending: ​ ​ Remainder of 2023 ​ $ 1,023 ​ $ 195 2024 ​ 3,493 ​ 727 2025 ​ 2,982 ​ 671 2026 ​ 3,005 ​ 574 2027 ​ 3,064 ​ 551 Thereafter ​ 3,856 ​ 19,346 Total lease payments ​ 17,423 ​ 22,064 Less: Interest ​ (2,511) ​ (14,454) Present value of lease liabilities ​ $ 14,912 ​ $ 7,610
Schedule of supplemental cash flow and other information related to leases	​ ​ ​ ​ ​ ​ ​ ​ ​ 39 Weeks Ended (In thousands) ​ September 30, 2023 ​ September 24, 2022 Cash paid for amounts included in the measurement of lease liabilities ​ ​ Operating cash flows from operating leases ​ $ 3,039 ​ $ 3,042 Operating cash flows from finance leases ​ 423 ​ 397 Financing cash flows from finance leases ​ ​ 73 ​ ​ 59 Lease liabilities arising from lease right-of-use assets ​ ​ ​ ​ ​ ​ Finance leases ​ ​ 667 ​ ​ — Operating leases ​ ​ — ​ ​ 78 ​

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 30, 2023
Commitments and Contingencies.
Schedule of estimated annual minimum purchase commitments with suppliers	​ ​ ​ ​ ​ Fiscal Year Ending (In thousands) Remainder of 2023 ​ $ 1,907 2024 ​ 12,821 2025 ​ 392 2026 ​ — 2027 ​ — Thereafter ​ — Total ​ $ 15,120

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2023
Fair Value of Financial Instruments
Schedule of assets and liabilities measured at fair value on a recurring basis	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of September 30, 2023 ​ ​ 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 September 30, 2023 Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivatives in cash flow hedging relationships ​ ​ $ — ​ $ 3,251 ​ $ — ​ $ 3,251 Total assets ​ ​ $ — ​ $ 3,251 ​ $ — ​ $ 3,251 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivatives not designated as hedging instruments ​ ​ $ — ​ $ 1,311 ​ $ — ​ $ 1,311 Total liabilities ​ ​ $ — ​ $ 1,311 ​ $ — ​ $ 1,311 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2022 ​ ​ 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)	9 Months Ended
	Sep. 30, 2023
Hedging and Derivative Financial Instruments
Schedule of fair values derivative instruments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2023 ​ December 31, 2022 (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 ​ $ — ​ $ 1,311 ​ $ — ​ $ 33 Total derivatives not designated as hedging instruments ​ ​ ​ $ — ​ $ 1,311 ​ $ — ​ $ 33 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivatives designated as hedging instruments under Subtopic 815-20 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate caps - short term ​ Prepaid expenses and other current assets ​ $ 3,251 ​ $ — ​ $ 1,997 ​ $ — Interest rate caps - long term ​ Other long-term assets ​ ​ — ​ ​ — ​ ​ 1,631 ​ ​ — Total derivatives designated as hedging instruments ​ ​ ​ $ 3,251 ​ $ — ​ $ 3,628 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total derivatives ​ ​ ​ $ 3,251 ​ $ 1,311 ​ $ 3,628 ​ $ 33 (1) Derivative instruments within this category are subject to master netting arrangements and are presented on a net basis in the Condensed 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	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ Amount of Gain (Loss) Recognized in OCI ​ ​ 13 Weeks Ended ​ 39 Weeks Ended Derivatives in Subtopic 815-20 Hedging Relationships September 30, 2023 September 24, 2022 September 30, 2023 September 24, 2022 Derivatives in cash flow hedging relationships ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate caps ​ $ 227 ​ $ (1,785) ​ $ 1,640 ​ $ (1,785) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income ​ ​ 13 Weeks Ended ​ ​ 39 Weeks Ended Location of Gain or (Loss) Reclassified from Accumulated OCI into Income ​ September 30, 2023 September 24, 2022 September 30, 2023 September 24, 2022 Derivatives in cash flow hedging relationships ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest expense, net ​ $ 648 ​ $ — ​ $ 1,370 ​ $ —
Schedule of derivative financial instruments on Statements of Operations	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gain (Loss) Recognized ​ ​ ​ ​ 13 Weeks Ended ​ 39 Weeks Ended ​ ​ ​ ​ September 30, ​ September 24, ​ ​ September 30, ​ September 24, (In thousands) Statement of Operations Location 2023 2022 2023 2022 Total amounts of expense presented in the Statements of Operations in which the derivatives not designated as hedging are recorded ​ Selling, general and administrative ​ $ 58,471 ​ $ 43,965 ​ ​ $ 149,518 ​ $ 117,329 The effects of derivatives not designated as hedging instruments under Subtopic 815-20: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency contracts ​ Selling, general and administrative ​ (1,080) ​ (2,758) ​ ​ (1,278) ​ (3,255) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total amounts of expense presented in the Statements of Operations in which the derivatives designated as hedging are recorded ​ Interest expense, net ​ 8,621 ​ 6,679 ​ ​ 26,000 ​ 18,414 The effects of derivatives designated as hedging instruments under Subtopic 815-20: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate caps ​ Interest expense, net ​ 648 ​ — ​ ​ 1,370 ​ —
Schedule of net amounts of derivative assets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Offsetting of Derivative Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of September 30, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross Amounts Not Offset in the Balance Sheet ​ ​ ​ (In thousands) 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 Net Amount Derivatives ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency contracts ​ $ 128 ​ $ (128) ​ $ — ​ $ — ​ $ — ​ $ — Total derivatives, subject to a master netting arrangement ​ ​ 128 ​ ​ (128) ​ ​ — ​ ​ — ​ ​ — ​ ​ — Total derivatives, not subject to a master netting arrangement ​ ​ 3,251 ​ ​ — ​ ​ 3,251 ​ ​ — ​ ​ — ​ ​ 3,251 Total derivatives ​ $ 3,379 ​ $ (128) ​ $ 3,251 ​ $ — ​ $ — ​ $ 3,251 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Offsetting of Derivative Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross Amounts Not Offset in the Balance Sheet ​ ​ ​ (In thousands) 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 Net Amount 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 ​ ​ — ​ ​ — ​ ​ 3,628 Total derivatives ​ $ 3,684 ​ $ (56) ​ $ 3,628 ​ $ — ​ $ — ​ $ 3,628
Schedule of net amounts of derivative liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Offsetting of Derivative Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of September 30, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross Amounts Not Offset in the Balance Sheet ​ ​ ​ (In thousands) 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 ​ $ (1,439) ​ $ 128 ​ $ (1,311) ​ $ — ​ $ — ​ $ (1,311) Total derivatives, subject to a master netting arrangement ​ ​ (1,439) ​ ​ 128 ​ ​ (1,311) ​ ​ — ​ ​ — ​ ​ (1,311) Total derivatives, not subject to a master netting arrangement ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Total derivatives ​ $ (1,439) ​ $ 128 ​ $ (1,311) ​ $ — ​ $ — ​ $ (1,311) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Offsetting of Derivative Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross Amounts Not Offset in the Balance Sheet ​ ​ ​ (In thousands) 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)	9 Months Ended
	Sep. 30, 2023
Equity-Based Compensation.
Schedule of equity-based compensation expense	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 13 Weeks Ended 39 Weeks Ended (In thousands) ​ September 30, 2023 ​ September 24, 2022 September 30, 2023 ​ September 24, 2022 Equity awards under the 2017 Plan (Pre-IPO) ​ ​ ​ ​ ​ RSAs ​ $ 130 ​ $ 279 ​ $ 403 ​ $ 927 PSAs ​ 1,782 ​ 1,663 ​ 5,181 ​ 4,887 Total equity-based compensation expense for the 2017 Plan ​ ​ 1,912 ​ ​ 1,942 ​ ​ 5,584 ​ ​ 5,814 Equity awards under the 2021 Plan (Post-IPO) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ RSUs ​ ​ 3,384 ​ ​ 1,856 ​ ​ 9,726 ​ ​ 5,123 PSUs ​ ​ 1,071 ​ ​ 808 ​ ​ 2,984 ​ ​ 2,303 Total equity-based compensation expense for the 2021 Plan ​ ​ 4,455 ​ ​ 2,664 ​ ​ 12,710 ​ ​ 7,426 Total equity-based compensation expense ​ $ 6,367 ​ $ 4,606 ​ $ 18,294 ​ $ 13,240

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
	Sep. 30, 2023
Income Taxes
Schedule of income tax expense (benefit)	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 13 Weeks Ended ​ 39 Weeks Ended ​ (In thousands) ​ September 30, 2023 ​ September 24, 2022 ​ September 30, 2023 ​ September 24, 2022 Income (loss) before income taxes $ 3,362 $ 3,964 ​ $ 24,471 $ (28,659) ​ Effective income tax (expense) benefit ​ $ (1,936) ​ $ (2,500) ​ ​ $ (9,810) ​ $ 3,895 ​ Effective tax rate ​ 57.6 % 63.1 % ​ 40.1 % 13.6 %

Related Party Transactions (Tab

Related Party Transactions (Tables)	9 Months Ended
	Sep. 30, 2023
Related Party Transaction [Line Items]
Schedule of transactions with related party	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 13 Weeks Ended 39 Weeks Ended (In thousands) ​ September 30, 2023 ​ September 24, 2022 ​ September 30, 2023 ​ September 24, 2022 Sales ​ $ 104 ​ $ 136 ​ $ 347 ​ $ 377 Purchases ​ $ 1,587 ​ $ 2,174 ​ $ 5,424 ​ $ 6,440 ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) September 30, 2023 December 31, 2022 Receivables ​ $ 28 ​ $ 29 Payables ​ $ 777 ​ $ 870
Schedule of estimated annual minimum purchase commitments with suppliers	​ ​ ​ ​ ​ Fiscal Year Ending (In thousands) Remainder of 2023 ​ $ 1,907 2024 ​ 12,821 2025 ​ 392 2026 ​ — 2027 ​ — Thereafter ​ — Total ​ $ 15,120
Morning Fresh
Related Party Transaction [Line Items]
Schedule of estimated annual minimum purchase commitments with suppliers	​ ​ ​ ​ ​ Fiscal Year Ending (In thousands) Remainder of 2023 ​ $ 2,035 2024 ​ ​ 8,375 2025 ​ ​ 8,375 2026 ​ ​ 8,375 2027 ​ ​ 8,375 Thereafter ​ ​ — Total ​ $ 35,535

Earnings (Loss) Per Share (Tabl

Earnings (Loss) Per Share (Tables)	9 Months Ended
	Sep. 30, 2023
Earnings (Loss) Per Share
Schedule of Basic and diluted earnings (loss) per share	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 13 Weeks Ended ​ 39 Weeks Ended (In thousands, except share and per share amounts) September 30, 2023 September 24, 2022 September 30, 2023 September 24, 2022 Net income (loss) ​ $ 1,426 ​ $ 1,464 ​ $ 14,661 ​ $ (24,764) ​ ​ ​ ​ ​ ​ ​ Weighted average basic common shares outstanding ​ 101,327,970 ​ ​ 100,913,121 ​ ​ 101,259,880 ​ ​ 100,901,161 Effect of dilutive securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Restricted stock units ​ 1,394,767 ​ 476,939 ​ 903,171 ​ — Performance stock units ​ 1,052,527 ​ ​ 223,868 ​ ​ 688,548 ​ ​ — Total dilutive securities ​ ​ 2,447,294 ​ ​ 700,807 ​ ​ 1,591,719 ​ ​ — Weighted average and potential dilutive common shares outstanding ​ ​ 103,775,264 ​ ​ 101,613,928 ​ ​ 102,851,599 ​ ​ 100,901,161 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Earnings (loss) per share ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic ​ $ 0.01 ​ $ 0.01 ​ $ 0.14 ​ $ (0.25) Diluted ​ $ 0.01 ​ $ 0.01 ​ $ 0.14 ​ $ (0.25)

Company Overview (Details)

Company Overview (Details) $ / shares in Units, $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2023 USD ($) subsidiary	Sep. 30, 2023 USD ($) subsidiary	Aug. 07, 2023 $ / shares
Campbell Merger [Member]
Consolidation, Wholly Owned Subsidiary, Parent Ownership Interest [Line Items]
Merger consideration per share | $ / shares			$ 23
Merger consideration per share, daily increment in case of delay in effective date | $ / shares			$ 0.00182
Merger-related expenses	$ 10.8	$ 11.4
Professional Fees	7.2	7.8
Retention awards and other transaction related bonuses	2.9	2.9
Merger Related Costs	$ 0.7	$ 0.7
Sovos Brands Intermediate, Inc.
Consolidation, Wholly Owned Subsidiary, Parent Ownership Interest [Line Items]
Number of subsidiaries | subsidiary	4	4

Loss on Asset Sale (Details)

Loss on Asset Sale (Details) - Disposed by sale - Birch Benders brand $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($)
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	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 24, 2022	Sep. 30, 2023	Sep. 24, 2022
Revenue Recognition
Total net sales	$ 257,944	$ 208,907	$ 728,370	$ 616,273
Rao's
Revenue Recognition
Total net sales	196,294	135,189	540,373	392,399
Noosa
Revenue Recognition
Total net sales	42,950	42,703	136,220	132,102
Michael Angelo's
Revenue Recognition
Total net sales	18,723	21,269	52,948	61,251
Birch Benders
Revenue Recognition
Total net sales	$ (23)	$ 9,746	$ (1,171)	$ 30,521

Inventories, Net (Details)

Inventories, Net (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Inventories, Net
Finished goods	$ 67,446	$ 76,404
Raw materials and packaging supplies	13,183	16,198
Total inventories, net	$ 80,629	$ 92,602

Goodwill (Details)

Goodwill (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 24, 2022	Sep. 30, 2023	Sep. 24, 2022
Goodwill.
Impairment of goodwill	$ 0	$ 0	$ 0	$ 42,052
Change in carrying value of goodwill	$ 0	$ 0	$ 0

Intangible Assets, Net (Details

Intangible Assets, Net (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Intangible assets - definite lives
Gross carrying amount	$ 309,047	$ 405,347
Accumulated amortization	127,319	120,933
Sale of intangible assets	0	85,867
Total	181,728	198,547
Intangible assets - indefinite lives
Gross Carrying Amount	462,047	558,347
Accumulated amortization	127,319	120,933
Sale of intangible assets		85,867
Net carrying amount	334,728	351,547
Tradename
Intangible assets - indefinite lives
Net carrying amount	153,000	153,000
Customer relationships
Intangible assets - definite lives
Gross carrying amount	207,300	213,000
Accumulated amortization	101,771	89,201
Sale of intangible assets		5,082
Total	105,529	118,717
Intangible assets - indefinite lives
Accumulated amortization	101,771	89,201
Tradename
Intangible assets - definite lives
Gross carrying amount	101,747	192,347
Accumulated amortization	25,548	31,732
Sale of intangible assets		80,785
Total	76,199	79,830
Intangible assets - indefinite lives
Accumulated amortization	$ 25,548	$ 31,732

Intangible Assets, Net - Narrat

Intangible Assets, Net - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 24, 2022	Sep. 30, 2023	Sep. 24, 2022	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Amortization expense	$ 5,600	$ 6,800	$ 16,800	$ 20,400
Sales of definite lived intangible assets	0		0		$ 85,867
Impairment charges	$ 0		$ 0
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Sales of definite lived intangible assets					5,082
Tradename
Finite-Lived Intangible Assets [Line Items]
Sales of definite lived intangible assets					80,785
Birch Benders | Customer relationships
Finite-Lived Intangible Assets [Line Items]
Sales of definite lived intangible assets					5,100
Birch Benders | Tradename
Finite-Lived Intangible Assets [Line Items]
Sales of definite lived intangible assets					$ 80,800

Intangible Assets, Net - Amorti

Intangible Assets, Net - Amortization expense (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Remainder of 2023	$ 5,606
2024	22,425
2025	22,425
2026	22,425
2027	17,782
Thereafter	91,065
Total	$ 181,728	$ 198,547

Accrued Expenses (Details)

Accrued Expenses (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Accrued Expenses
Accrued trade	$ 26,749	$ 32,337
Accrued compensation and benefits	22,265	17,328
Accrued general expense	13,947	13,376
Accrued interest	7,562	6,530
Total accrued expenses	$ 70,523	$ 69,571

Long-Term Debt - Schedule of Lo

Long-Term Debt - Schedule of Long-term debt (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Long-term debt
Principal	$ 488,410	$ 487,817
Unamortized debt issuance costs	(4,620)	(5,374)
Finance lease liabilities	$ 7,610	$ 7,017
Finance Lease, Liability, Statement of Financial Position [Extensible Enumeration]	Total debt	Total debt
Total debt	$ 483,790	$ 482,443
Less: current portion of finance lease liabilities	202	99
Total long-term debt	483,588	482,344
Initial First Lien Term Loan Facility
Long-term debt
Principal	480,800	480,800
Unamortized debt issuance costs	(4,620)	(5,374)
Total debt, net	$ 476,180	$ 475,426

Long-Term Debt (Details)

Long-Term Debt (Details) $ in Thousands		1 Months Ended	3 Months Ended		9 Months Ended		12 Months Ended
	Jun. 28, 2023	Jun. 30, 2021 USD ($)	Sep. 30, 2023 USD ($)	Sep. 24, 2022 USD ($)	Sep. 30, 2023 USD ($)	Sep. 24, 2022 USD ($)	Dec. 25, 2021 USD ($)	Dec. 31, 2022 USD ($)
Long-term debt
Principal			$ 488,410		$ 488,410			$ 487,817
Amortization of debt issuance costs					949	$ 949
Interest expense, net
Long-term debt
Amortization of debt issuance costs			300	$ 300	900	$ 900
Initial First Lien Term Loan Facility
Long-term debt
Prepayment of debt							$ 99,200
Loss on the extinguishment							$ (1,400)
Principal			480,800		480,800
Payment of debt issuance costs		$ 6,800
Threshold limit of Percentage of minimum interest rate		0.75%
Revolving Facility
Long-term debt
Payment of debt issuance costs		$ 1,100
Amortization of debt issuance costs		$ 200
Available credit			125,000		125,000			125,000
Outstanding debt			0		0
First Lien Revolving Line of Credit
Long-term debt
Threshold limit of Percentage of minimum interest rate		0%
Outstanding debt			$ 0		$ 0			$ 0
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
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)			9.13%		9.13%			7.91%
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 and Revolving Facility | One Month SOFR
Long-term debt
Interest rate (as a percent)	0.11448%
Initial First Lien Term Loan Facility and Revolving Facility | Three Month SOFR
Long-term debt
Interest rate (as a percent)	0.26161%
Initial First Lien Term Loan Facility and Revolving Facility | Six Month SOFR
Long-term debt
Interest rate (as a percent)	0.42826%
Initial First Lien Term Loan Facility and Revolving Facility | Twelve Month SOFR
Long-term debt
Interest rate (as a percent)	0.71513%
Initial First Lien Term Loan Facility
Long-term debt
Principal			$ 480,800		$ 480,800			$ 480,800
Debt discounts on issuance		$ 1,500

Leases - Components of lease ex

Leases - Components of lease expenses (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 24, 2022	Sep. 30, 2023	Sep. 24, 2022
Operating lease cost:
Total operating lease cost	$ 8,848	$ 1,202	$ 16,227	$ 3,601
Total finance lease cost	237	198	631	593
Total lease cost	9,153	1,481	17,035	4,371
Cost of sales and Selling, general and administrative
Operating lease cost:
Lease cost	809	823	2,430	2,502
Variable lease cost	8,039	379	13,797	1,099
Short term lease cost	68	81	177	177
Amortization of right-of-use assets	78	66	208	196
Interest expense, net
Operating lease cost:
Interest on lease liabilities	$ 159	$ 132	$ 423	$ 397
Minimum
Leases
Lease term	2 years		2 years
Maximum
Leases
Lease term	10 years		10 years
Equipment
Leases
Lease term	5 years		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		2 years
Manufacturing facilities and office space | Maximum
Leases
Lease term	30 years		30 years

Leases - Assets and Liabilities

Leases - Assets and Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Leases
Operating lease right-of-use assets	$ 11,482	$ 13,332
Finance lease right-of-use assets	$ 6,463	$ 6,038
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	$ 17,945	$ 19,370
Current portion of long-term operating lease liabilities	3,045	3,308
Current portion of long-term finance lease liabilities	202	99
Operating lease liability, long-term	11,867	14,063
Finance lease liabilities, long-term	$ 7,408	$ 6,918
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	$ 22,522	$ 24,388

Leases - Other information (Det

Leases - Other information (Details)	Sep. 30, 2023	Dec. 31, 2022
Leases
Weighted-average remaining lease term (in years) - Operating leases	6 years	6 years 4 months 24 days
Weighted-average remaining lease term (in years) - Finance leases	32 years 6 months	34 years 2 months 12 days
Weighted-average discount rate - Operating leases	5%	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	Sep. 30, 2023	Dec. 31, 2022
Operating Leases
Remainder of 2023	$ 1,023
2024	3,493
2025	2,982
2026	3,005
2027	3,064
Thereafter	3,856
Total lease payments	17,423
Less: Interest	(2,511)
Present value of lease liabilities	14,912
Finance Leases
Remainder of 2023	195
2024	727
2025	671
2026	574
2027	551
Thereafter	19,346
Total lease payments	22,064
Less: Interest	(14,454)
Present value of lease liabilities	$ 7,610	$ 7,017

Leases - Supplemental cash flow

Leases - Supplemental cash flow and other information (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 24, 2022
Leases
Operating cash flows from operating leases	$ 3,039	$ 3,042
Operating cash flows from finance leases	423	397
Financing cash flows from finance leases	73	59
Lease liabilities arising from lease right-of-use assets finance leases	$ 667
Lease liabilities arising from lease right-of-use assets operating leases		$ 78

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details)	9 Months Ended
	Sep. 30, 2023 item
Commitments and Contingencies.
Number of suppliers	5

Commitments and Contingencies_2

Commitments and Contingencies - Estimated annual minimum purchase commitments with suppliers (Details) - Third Parties $ in Thousands	Sep. 30, 2023 USD ($)
Purchase commitments with suppliers
Remainder of 2023	$ 1,907
2024	12,821
2025	392
Total	$ 15,120

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Assets and liabilities measured at fair value on recurring basis (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Assets	$ 3,251	$ 3,628
Total Liabilities	1,311	33
Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Assets	3,251	3,628
Not Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Liabilities	1,311	33
Recurring basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Assets	3,251	3,628
Total Liabilities	1,311	33
Recurring basis | Not Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Liabilities	$ 1,311	$ 33
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Other Liabilities, Noncurrent	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	$ 3,251	$ 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	3,251	3,628
Total Liabilities	1,311	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	1,311	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	$ 3,251	$ 3,628

Fair Value of Financial Instr_4

Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Fair Value of Financial Instruments
Asset transfer from level 1 to level 2	$ 0	$ 0
Asset transfer from level 2 to level 1	0	0
Liabilities transfer from level 1 to level 2	0	0
Liabilities transfer from level 2 to level 1	0	0
Assets transfer in or out of level 3	0	0
Liability transfer in or out of level 3	$ 0	$ 0

Hedging and Derivative Financ_3

Hedging and Derivative Financial Instruments - Fair value of derivative instruments (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Assets
Total Assets	$ 3,251	$ 3,628
Liabilities
Total Liabilities	1,311	33
Not Designated as Hedging Instrument
Liabilities
Total Liabilities	1,311	33
Designated as Hedging Instrument
Assets
Total Assets	3,251	3,628
Foreign exchange contract | Not Designated as Hedging Instrument
Liabilities
Total Liabilities	$ 1,311	$ 33
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Accrued Liabilities, Current	Accrued Liabilities, Current
Interest rate cap | Designated as Hedging Instrument
Assets
Total Assets	$ 3,251
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Prepaid Expense and Other Assets, Current
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	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 24, 2022	Sep. 30, 2023	Sep. 24, 2022	Dec. 31, 2022
Derivative [Line Items]
Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income			$ 2,300
Designated as Hedging Instrument | Cash flow hedging
Derivative [Line Items]
Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income	$ 648		$ 1,370
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	Interest Income (Expense), Net
Foreign exchange contract | Not Designated as Hedging Instrument
Derivative [Line Items]
Total notional value	$ 331,900		$ 331,900		$ 145,700
Interest rate cap | Designated as Hedging Instrument | Cash flow hedging
Derivative [Line Items]
Amount of Gain Recognized in OCI	$ 227	$ (1,785)	$ 1,640	$ (1,785)

Hedging and Derivative Financ_5

Hedging and Derivative Financial Instruments - Effect of derivative financial instruments on Statements of Operations (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 24, 2022	Sep. 30, 2023	Sep. 24, 2022
Not Designated as Hedging Instrument
Derivative [Line Items]
Gain (Loss) Recognized	$ 58,471	$ 43,965	$ 149,518	$ 117,329
Designated as Hedging Instrument | Cash flow hedging
Derivative [Line Items]
Gain (Loss) Recognized	8,621	6,679	26,000	18,414
Foreign exchange contract | Not Designated as Hedging Instrument
Derivative [Line Items]
Gain (Loss) Recognized	(1,080)	$ (2,758)	(1,278)	$ (3,255)
Interest rate cap | Designated as Hedging Instrument | Cash flow hedging
Derivative [Line Items]
Gain (Loss) Recognized	$ 648		$ 1,370

Hedging and Derivative Financ_6

Hedging and Derivative Financial Instruments - Offsetting of Derivative Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Derivatives, subject to a master netting arrangement
Gross Amounts of Recognized Assets	$ 3,379	$ 3,684
Gross Amounts Offset in the Balance Sheet	(128)	(56)
Net Amount	3,251	3,628
Derivatives, not subject to a master netting arrangement
Net Amount	3,251	3,628
Assets
Gross Amounts of Recognized Assets	3,379	3,684
Gross Amounts Offset in the Balance Sheet	(128)	(56)
Total Assets	3,251	3,628
Net Amount	3,251	3,628
Foreign currency contract derivatives subject to master netting
Derivatives, subject to a master netting arrangement
Gross Amounts of Recognized Assets	128	56
Gross Amounts Offset in the Balance Sheet	(128)	(56)
Assets
Gross Amounts of Recognized Assets	128	56
Gross Amounts Offset in the Balance Sheet	(128)	(56)
Derivatives not Subject to master netting
Derivatives, subject to a master netting arrangement
Net Amount	3,251	3,628
Derivatives, not subject to a master netting arrangement
Gross Amounts Offset in the Balance Sheet	3,251	3,628
Net Amounts of Assets Presented in the Balance Sheet	3,251	3,628
Net Amount	3,251	3,628
Assets
Net Amount	$ 3,251	$ 3,628

Hedging and Derivative Financ_7

Hedging and Derivative Financial Instruments - Offsetting of Derivative Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Derivative Liability, Subject to Master Netting Arrangement, after Offset and Deduction [Abstract]
Gross Amounts of Recognized Liabilities	$ (1,439)	$ (89)
Gross Amounts Offset in the Balance Sheet	128	56
Net Amounts of Liabilities Presented in the Balance Sheet	(1,311)	(33)
Net amount	(1,311)	(33)
Liabilities
Gross Amounts of Recognized Liabilities	(1,439)	(89)
Gross Amounts Offset in the Balance Sheet	128	56
Net Amounts of Liabilities Presented in the Balance Sheet	(1,311)	(33)
Net amount	(1,311)	(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	(1,439)	(89)
Gross Amounts Offset in the Balance Sheet	128	56
Net Amounts of Liabilities Presented in the Balance Sheet	(1,311)	(33)
Net amount	(1,311)	(33)
Liabilities
Gross Amounts of Recognized Liabilities	(1,439)	(89)
Gross Amounts Offset in the Balance Sheet	128	56
Net Amounts of Liabilities Presented in the Balance Sheet	(1,311)	(33)
Net amount	$ (1,311)	$ (33)

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($) $ / shares in Units, $ in Millions	May 17, 2023	May 15, 2023	Aug. 22, 2022	Aug. 10, 2022	Oct. 05, 2021	Sep. 27, 2021	Sep. 30, 2023	Dec. 31, 2022	Sep. 26, 2021	Sep. 23, 2021
Subsidiary, Sale of Stock [Line Items]
Shares authorized										510,000,000
Common stock, authorized (in shares)							500,000,000	500,000,000		500,000,000
Common stock, par value (in dollars per share)							$ 0.001	$ 0.001		$ 0.001
Preferred stock, authorized (in shares)							10,000,000	10,000,000		10,000,000
Preferred stock, par value (in dollars per share)							$ 0.001	$ 0.001		$ 0.001
Preferred stock, issued (in shares)							0	0
Preferred stock, outstanding (in shares)							0	0
Common stock, issued (in shares)							101,375,933	100,967,910	74,058,447
Common stock, outstanding (in shares)							101,375,933	100,967,910	74,058,447
Certain Stockholders
Subsidiary, Sale of Stock [Line Items]
Additional common stock issued (in shares)	1,500,000		1,275,000
IPO
Subsidiary, Sale of Stock [Line Items]
Common stock, par value (in dollars per share)						$ 0.001
Additional common stock issued (in shares)						23,334,000
Offering price (in dollar per share)						$ 12
Net proceeds from IPO						$ 263.2
Underwriting discounts and commissions						$ 16.8
Over-Allotment Option
Subsidiary, Sale of Stock [Line Items]
Additional common stock issued (in shares)					3,500,100
Net proceeds from IPO					$ 39.5
Underwriting discounts and commissions					$ 2.5
Secondary Offering | Certain Stockholders
Subsidiary, Sale of Stock [Line Items]
Additional common stock issued (in shares)		10,000,000		8,500,000
Offering price (in dollar per share)		$ 17.50		$ 14

Equity-Based Compensation (Deta

Equity-Based Compensation (Details) $ in Thousands						3 Months Ended		9 Months Ended
	Feb. 10, 2023 USD ($) tranche	Nov. 04, 2021 USD ($) tranche	Nov. 03, 2021 tranche shares	Sep. 22, 2021 USD ($) tranche item	Sep. 21, 2021 shares	Sep. 30, 2023 USD ($) shares	Sep. 24, 2022 USD ($)	Sep. 30, 2023 USD ($) installment shares	Sep. 24, 2022 USD ($) installment shares
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Allocated share based payments | $						$ 6,367	$ 4,606	$ 18,294	$ 13,240
Unrecognized equity based compensation expense | $						32,300		32,300
2021 Equity Incentive Plan
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Allocated share based payments | $						$ 4,455	2,664	$ 12,710	7,426
Shares reserved for future issuance					9,739,244	6,274,450		6,274,450
Time Based Restricted Common Stock | Modification to Two Thousand Twenty One Equity Incentive
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Modified grant date fair value | $	$ 5,500
Time Based Restricted Common Stock | Modification to Two Thousand Twenty One Equity Incentive | Tranche One
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Vesting percentage	50%
Time Based Restricted Common Stock | Modification to Two Thousand Twenty One Equity Incentive | Tranche Two
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Vesting percentage	50%
Performance Based Incentive Units | Tranche One
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Vested								169,698
Vesting percentage								50%
Performance Based Incentive Units | Tranche Two
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Vested								509,210
Vesting percentage								50%
Performance Based Incentive Units | Tranche Three
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Vested								1,160,761
Performance Based Restricted Stock Units
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Allocated share based payments | $						$ 1,071	808	$ 2,984	$ 2,303
Vesting percentage								100%
Performance Based Restricted Stock Units | Employees
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Grants in period								470,048	343,800
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]
Vesting percentage								100%
Performance Based Restricted Stock Units | 2021 Equity Incentive Plan | Employees
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Grants in period					687,690
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	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
Fair value of Incentive Units | $				$ 13,000
Performance Based Restricted Common Stock | Modification to Two Thousand Twenty One Equity Incentive
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Modified grant date fair value | $	$ 4,300
Performance Based Restricted Common Stock | Modification to Two Thousand Twenty One Equity Incentive | Tranche One
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Vesting percentage	50%
Performance Based Restricted Common Stock | Modification to Two Thousand Twenty One Equity Incentive | Tranche Two
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Vesting percentage	50%
Service Based Restricted Common Stock | Tranche One
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Vested								1,790
Service Based Restricted Common Stock | Tranche Two
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Vested								1,839,669
Restricted Stock Units
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Allocated share based payments | $						3,384	1,856	$ 9,726	$ 5,123
Restricted Stock Units | Employees and Non-Employee Directors
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Grants in period								489,877	708,682
Restricted Stock Units | Tranche Four | Independent Contractors [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Grants in period								5,344
Restricted Stock Units | Vesting in Two Installments | Employees
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Grants in period								359,909	604,833
Number of equal installments | installment								2	2
Restricted Stock Units | Vesting in Three Installments | Employees
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Grants in period								94,964	76,039
Number of equal installments | installment								3	3
Restricted Stock Units | Vesting In First Anniversary | Non-Employee Directors
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Grants in period								29,660	27,810
Restricted stock
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Allocated share based payments | $						$ 130	$ 279	$ 403	$ 927
Restricted stock | Modification to Two Thousand Twenty One Equity Incentive | Minimum
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Multiplying factor for invested capital | tranche	3
Restricted stock | Modification to Two Thousand Twenty One Equity Incentive | Maximum
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Multiplying factor for invested capital | tranche	4

Equity-Based Compensation - Com

Equity-Based Compensation - Compensation (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 24, 2022	Sep. 30, 2023	Sep. 24, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation expense	$ 6,367	$ 4,606	$ 18,294	$ 13,240
RSAs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation expense	130	279	403	927
PSAs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation expense	1,782	1,663	5,181	4,887
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation expense	3,384	1,856	9,726	5,123
PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation expense	1,071	808	2,984	2,303
2017 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation expense	1,912	1,942	5,584	5,814
2021 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation expense	$ 4,455	$ 2,664	$ 12,710	$ 7,426

Income Taxes - Effective tax ra

Income Taxes - Effective tax rate (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 24, 2022	Sep. 30, 2023	Sep. 24, 2022
Income Taxes
Income (loss) before income taxes	$ 3,362	$ 3,964	$ 24,471	$ (28,659)
Effective income tax (expense) benefit	$ (1,936)	$ (2,500)	$ (9,810)	$ 3,895
Effective tax rate	57.60%	63.10%	40.10%	13.60%
Federal income tax rate	21%	21%	21%	21%

Related Party Transactions (Det

Related Party Transactions (Details) $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended
	Jan. 29, 2022 USD ($)	Sep. 30, 2023 USD ($) item	Sep. 24, 2022 USD ($)	Sep. 30, 2023 USD ($) item	Sep. 24, 2022 USD ($)	Dec. 31, 2022 USD ($)
Related Party Transactions
Related party leases | item		2		2
Finance lease liability		$ 7,408		$ 7,408		$ 6,918
Operating lease liability, long-term		11,867		11,867		$ 14,063
Morning Fresh
Related Party Transactions
Finance lease liability		6,900		6,900
Operating lease liability, long-term		500		500
Total facility lease payments	$ 44	194	$ 144	499	$ 429
Shares of utilities		$ 56	$ 45	$ 165	$ 136

Related Party Transactions - Tr

Related Party Transactions - Transactions (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 24, 2022	Sep. 30, 2023	Sep. 24, 2022	Dec. 31, 2022
Related Party Transactions
Receivables	$ 96,962		$ 96,962		$ 87,695
Payables	54,395		54,395		49,264
Morning Fresh
Related Party Transactions
Sales	104	$ 136	347	$ 377
Purchases	1,587	$ 2,174	5,424	$ 6,440
Receivables	28		28		29
Payables	$ 777		$ 777		$ 870

Related Party Transactions - Na

Related Party Transactions - Narrative (Details)	1 Months Ended		9 Months Ended
	Jun. 30, 2023 USD ($)	May 31, 2023 USD ($)	Sep. 30, 2023 USD ($) item	Dec. 31, 2022 USD ($)
Morning Fresh | Milk supply agreement
Related Party Transactions
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			$ 33,800,000
Monthly additional costs			33,000
Early termination penalty			$ 0
Term of Agreement			10 years
Morning Fresh | Milk supply agreement | Maximum
Related Party Transactions
Early termination penalty			$ 3,000,000
Sovos Brands Limited Partnership
Related Party Transactions
Receivable balance			$ 100,000	$ 100,000
Robert L. Graves | Consulting Agreement
Related Party Transactions
Term of Agreement		3 years
Annual consulting charges		$ 100,000
Robert L. Graves | Consulting Agreement | Restricted Stock Units
Related Party Transactions
RSU equity award granted fair value	$ 100,000

Related Party Transactions - Su

Related Party Transactions - Summary of estimated annual minimum purchase commitments (Details) - Related parties - Morning Fresh $ in Thousands	Sep. 30, 2023 USD ($)
Purchase commitments with suppliers
Remainder of 2023	$ 2,035
2024	8,375
2025	8,375
2026	8,375
2027	8,375
Total	$ 35,535

Earnings (Loss) Per Share - Bas

Earnings (Loss) Per Share - Basic and Diluted earnings per share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 24, 2022	Sep. 30, 2023	Sep. 24, 2022
Earnings (Loss) Per Share
Net income (loss)	$ 1,426	$ 1,464	$ 14,661	$ (24,764)
Weighted average basic common shares outstanding	101,327,970	100,913,121	101,259,880	100,901,161
Restricted stock units	1,394,767	476,939	903,171
Performance stock units	1,052,527	223,868	688,548
Total dilutive securities	2,447,294	700,807	1,591,719
Weighted average and potential dilutive common shares outstanding	103,775,264	101,613,928	102,851,599	100,901,161
Earnings per share
Basic (in dollars per share)	$ 0.01	$ 0.01	$ 0.14	$ (0.25)
Diluted (in dollars per share)	$ 0.01	$ 0.01	$ 0.14	$ (0.25)

Earnings (Loss) Per Share (Deta

Earnings (Loss) Per Share (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 24, 2022	Sep. 30, 2023	Sep. 24, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive shares when in a loss				325,102
Anti-dilutive shares		0		177
Restricted Stock Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive shares	4,147		4,147
Performance Stock Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive shares	0		0

Subsequent Events (Details)

Subsequent Events (Details) - Modification to 2021 Equity Incentive Plan	Feb. 10, 2023 tranche
Restricted stock | Minimum
Subsequent Event [Line Items]
Multiplying factor for invested capital	3
Restricted stock | Maximum
Subsequent Event [Line Items]
Multiplying factor for invested capital	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%

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 24, 2022	Sep. 30, 2023	Sep. 24, 2022
Pay vs Performance Disclosure
Net Income (Loss)	$ 1,426	$ 1,464	$ 14,661	$ (24,764)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 30, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false