McCormick in talks to buy Duke’s mayonnaise owner for over $1 billion – Per Bloomberg

McCormick (NYSE: MKC) & Co., the food company known for its spices and condiments, is currently in negotiations to purchase Sauer Brands Inc., which includes the well-known Duke’s mayonnaise, from Falfurrias Capital Partners (WA: CPAP), according to a report from Bloomberg. Sources close to the matter suggest that the deal could place the value of Sauer Brands at upwards of $1 billion. However, the discussions are private, and there has been no final agreement as of now. The possibility remains that the talks may not result in a sale or that another purchaser could step in.

The potential acquisition comes as McCormick continues to expand its portfolio. The company, headquartered in Hunt Valley, Maryland, has a history of significant purchases, including the acquisition of flavor manufacturer Fona International for $710 million and hot sauce brand Cholula for $800 million in 2020. Following these acquisitions, McCormick’s shares have seen a rise of approximately 17% this year, bringing its market valuation to around $21.5 billion.