everyone. quarter and of in I to Christina, strong the pleased Sovos third to you hello, Thanks, and to our results share IPO our many following am September introduce Brands story.
the the Brands I For financial in time sector. of food strength one is of Sovos highlights most will spend that the few today's our disruptive, touch why and quarterly underscore will companies packaged call, sharing upon I exciting, growth-oriented some business. operational a
After we for detail, as our QX outlook will discuss open results well for questions. Chris greater our call remarks, in my will Following the as provide that, XXXX. financial
by begin Let introducing company. me our
scale the is company food States. Brands Sovos in the at United fastest-growing
growth a one-of-a-kind portfolio are pioneering a approach food food packaged a brands. purposely accelerator, new of to with platform and high-growth, built We
and growth providing by resulting absolutely vision a creates delicious joy authenticity is ingredients consumers, that in with portfolio unforgettable brands, that built food using Rao's, core All Benders industry their experiences. build food brands average. outpaces Angelo's, for are providing our Our Birch Noosa to high-quality at simple, the food of Michael
Our model playbook growth, long-term significant and supports of sustainable, infrastructure these drive a acquiring common whitespace is one-of-a-kind business grounded our shared algorithm brands to for leveraging this and profitable and each in brands growth. for
mid-teens. up We have last EBITDA In and ago XX adjusted growth million of we a an the year $XXX combination digit generated sales, double the achieved XX% a with months, of brand profitability. versus in margin net
or brand penetration promoter And underline $XX in least strong Our of gain brands the share billion potential to to years. household at leading net our products of new with TAM our of affinities. have to our double an with over significant next exciting $XX pipeline market scores XX% several less billion a addressable today, runway
of made talk growth At category of dried pure XX%. this oil Rao's XX% category and XX.X% sauce are Rao's the selection with and of velocities of an brand and fresh and largest in sauce and ripe and than the let's Rao's today share of entrees, representing Consumption brand the pasta in to our soups. naturally each sauces, is frozen our a tomatoes, XX% pastas, pizza the fastest-growing pizza all-time Now about with distribution Xx largest business, market sales homemade offering with sauce home quarter. onions. pasta and the of brands. of compared Italian over sauces reaching growing olive dollar category our high more X%, Rao's approximately is core growing portfolio and is third
made just in open slow simmered like homemade. in kettles are Our and batches, small sauces
sauce up penetration data to penetration full milestone category innings for ahead in XX.X%, October of and pizza last We with period important one the us. distribution significant growth the with ago. increasing early household the Rao's XX-week X an opportunities of points Recent X percentage are pasta ending in year just marks for versus
growth Rao's brand, into growing with and Italian authentic less expect entrees frozen cuisine to entrees generate fresh frozen quality straight at our scale known consumption category milk, market Austin substantial mid-teens. dried leaders. category Combined, complement Importantly, yogurt of the high-quality unwavering ingredients. strong And are frozen our authentic Rao's net at than pasta, and whole expand strong dollar rate, sales the pure Italian leverages we brand aisle sales twice homemade of ingredients outperformed the and with as runway manufacturing XX the fruit a Rao's sales the heritage XXX% entrees months operational extending quintile are currently and in has the to one and digit as such a business frozen household while real two promoter Noosa of penetration and enables of in in for to as commitment rate. Noosa soup. well-established American facility, are us of entrees Michael new in for unit one-third making Rao's honey. Rao's for performance Angelo's North is equity made categories with brands the products the distribution, the growing efficiencies. category sauce and net velocity best-tasting its fastest-growing meaningful triple growing score national aisle brand such to still further has leading top our Rao's
cater the itself the lifestyles, protein very, consumers excited in yogurt Noosa guilt-free the yogurt better core Benders, launch offerings Benders' has through been frozen our retail in diet-friendly its traditionally snacks categories. and a you, very and foods our ingredient keto, to and variety our and Birch organic, for plant-based for category acquisition, Birch strong. the of With into plans newest including differentiates momentum very across business, customers paleo breakfast our of high-guilt diets. clean Feedback XXXX ice cream expand to from are first-ever we strong gelato. early with
and number loyalty. waffle the organic and enjoys consumer With promoter consumers, Benders Birch advocacy among brand one mix net pancake score
plan double launch Although with the baking success pleased market a the brands category, in and we Benders challenging and brand, respective brand, in COVID approximately mix approximately of XX% a frozen three categories; early net and by last in Sauce, waffle, the consumption Birch quarter third are yogurt XX% year's our and $X consumption their ready-to-eat third our waffle pancake quarter, categories, outpacing frosting we half surge of brand's lap of XX% are billion versus for experiencing category. Rao's the our the brand of versus Yogurt, significantly and increased accounts in the compared XX% grew the mix XX% sales for sauce, X% in Noosa first digits which and by XXXX. X.X% categories. approximately largest of to into for represented the Consumption of represented to represent by frozen, cookies, grew in sales accounts sales, category. the for
Michael truth. our at Finally Birch across similarities At far is approximately by glance, of includes Rao's Benders XX% and is a easy which than grew but frozen, combined Angelo's sales our consumption XX%. third-largest more and the find entrees brands business and from waffles, that differences is first to it
leverage demographic, are and share and the attributes, playbook the Sovos retailers the utilize Brands' similar sold in same a same brands same same the and growth to Our consumer appeal capabilities. channels infrastructure
and sales, to as the and reinvigorate coveted consumer a compete, high partner sizes. with valuable our repeat rates basket and incremental strategic generally which drive a large retailers brands they categories in highly attract base are We
price proposition. premium unit our for profit gross Additionally, compelling a points higher value generate per retailers, offering
to Year at of very the service proud Vendor Whole have strong our at and Year levels. the Target XXXX, performance received due to best-in-class are in brand We of Supplier and customer Foods
is focused categories. into expanding distribution, increasing strategy awareness on by and penetration Our innovating increasing household new brand
designed growth capture and provide we as and future for a Our foundation to new material add to platform synergies brands. scale is
their Over we that Our to brands founders makes attributes attractive an the level. brands potential successful with and acquire Sovos want to brand can unlock expect stewardship one-of-a-kind our partner growth who for we many to continue Brands time, to next significant with us playbook. take
in it grew line, a also touch sales resulting XX% a XX% of Benders increase Similar consistent year-over-year hand margin to in EBITDA Birch We or adjusted includes EBITDA let periods. I which to Before delivered top QX comparable XX.X%. over net a our increase in sales, in on me brand Chris, adjusted XX% net our performance. both
to household will increase adjusted we continue to XXXX gains growth of We invest am of a Chris XXXX of for to today. quarter the I let fuel disciplined sales company EBITDA. execution our more finish strong single-digit high and on growth packaged that, details share penetration, in Sovos in most our margins fiscal our Brands and and to long-term, mid- high-teens fuel and sector expanded confident brand brands full mid-XXs year it projected the growth making me market outlook. hand over with will year our net sales the With one players to in expect with exciting playbook food the for net