Did Mccormick Buy Cholula?
Acquires Cholula Hot Sauce in $800 Million Deal. Mccormick & Co. Completed Its Purchase of the Parent Company of Cholula Hot Sauce for $800 Million in Cash...
acquires Cholula Hot Sauce in $800 million deal. McCormick & Co. completed its purchase of the parent company of Cholula Hot Sauce for $800 million in cash, finalizing a deal announced last week.
Why did McCormick buy Cholula?
McCormick MKC -0.79% & Co. agreed to buy hot-sauce maker Cholula, seeking to capitalize on record demand for spicy condiments. The seasonings company said Tuesday it reached a deal with L Catterton, the private-equity firm that has owned Cholula since 2019, to pay $800 million for the brand.
When did McCormick buy Cholula?
McCormick announced the agreement to acquire Cholula on November 24, 2020. Cholula, a premium Mexican hot sauce brand, is a strong addition to McCormick's global branded flavor portfolio, broadening the Company's offering in the high growth hot sauce category to consumers and foodservice operators.
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