logo
Plus   Neg
Share
Email

McCormick Nearing Deal To Acquire Hot-Sauce Maker Cholula: WSJ

McCormick & Co., Inc. (MKC) is nearing a deal to acquire hot-sauce maker Cholula from private-equity firm L Catterton, the Wall Street Journal reported citing people familiar with the matter.

The company is in talks with L Catterton for a deal that would value Cholula around $800 million. L Catterton has owned the Cholula brand since early 2019.

The report noted that a deal, resulting from an auction of the business, could come together as soon as Tuesday.

With the proposed acquisition, the seasonings company aims to capitalize on demand for spicy condiments.

McCormick already owns another popular hot sauce, Frank's RedHot, which it acquired in 2017.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The U.S. Food and Drug Administration on Saturday authorized Johnson & Johnson's (JNJ) single-dose COVID-19 vaccine for emergency use. It is the first single-shot COVID-19 vaccine and the third COVID-19 vaccine for emergency use in the U.S. - the other two being Pfizer/BioNTech's BNT162b2 and Moderna's mRNA-1273. The U.S. Food and Drug Administration said that it will rapidly work toward finalization and issuance of an emergency use authorization of Johnson & Johnson's (JNJ) single-shot COVID-19 vaccine candidate. Billionaire Warren Buffett's Berkshire Hathaway Inc. (BRK.A, BRK.B) reported that its fourth-quarter net earnings attributable to shareholders rose 23 percent to $35.84 billion from last year's $29.16 billion, with earnings per share improving to $23,015 per Class A share from $17,909 per Class A share in the prior year.
Follow RTT