McCormick & Company recently announced their intent to acquire the Cholula hot sauce brand from private equity firm L Catteron for $800 million. The Cholula brand will join a hot sauce portfolio at McCormick that already contains the very popular Frank’s Red Hot brand.
According to a recent article in Food Business News Article by Keith Nunes, Cholula’s annual sales are around $96 million and are growing in the high single digits. President and CEO of McCormick, Lawrence E. Kurzius, was quoted in the article saying, “Hot sauce is an attractive, high-growth category and, as an iconic premium brand, Cholula is outpacing category growth.” McCormick & Co plans to focus on increasing both brand awareness and overall availability of the products.
Quazar Capital was not involved in this transaction.
Read the Full Article Here: https://www.foodbusinessnews.net/articles/17349-mccormick-to-add-more-heat-with-cholula-acquisition
