Spice Maker McCormick Reportedly in Talks to Buy Duke’s Mayo Parent Sauer Brands | Global News Avenue

McCormick (MKC), manufacturer The company is reportedly in talks to acquire Sauer Brands from current owner Falfurrias Capital Partners for more than $1 billion, according to reports late Monday. Bloomberg.

Sauer has its own line of spices and is known for its Duke brand mayonnaise and other condiments. The spices and condiments maker was acquired by private equity firm Falfurrias in 2019.

Reuters Reports in April, citing people familiar with the matter, said the private equity firm was considering selling the brand. Bloomberg, It was also reported on Monday that McCormick was in talks to acquire the brand, in a deal that could be valued at more than $1 billion but has not yet been finalized, citing people familiar with the matter.

McCormick and Falfrias did not immediately respond to requests for comment Tuesday morning.

McCormick’s product range extends well beyond its namesake line of spices and seasonings, as it also owns several condiment brands such as French Mustard, Frank’s Red Hot and Cholula Hot Sauce.

McCormick’s shares were little changed Tuesday morning, having risen about 17% since the beginning of the year.