McCormick to Acquire Cholula Hot Sauce for $800 Million
November 24, 2020
Cleary Gottlieb is representing McCormick & Company in connection with McCormick’s acquisition of the parent company of Cholula Hot Sauce for $800 million from L Catterton.
The transaction, which was announced on November 24, 2020, is expected to close by the end of the calendar year, subject to customary closing conditions.
Cholula Hot Sauce is a premium hot sauce brand that delivers authentic Mexican flavor.
Founded in 1889, McCormick & Company is a global leader in flavor. With over $5 billion in annual sales across 150 countries and territories, McCormick manufactures, markets and distributes spices, seasoning mixes, condiments and other flavorful products to the entire food industry including ecommerce channels, grocery, food manufacturers and foodservice businesses.
Cholula’s portfolio of six distinctive flavors is proudly made in Mexico using high-quality ingredients and is based on a 100-year old recipe comprised of a unique blend of fresh peppers and regional spices. McCormick plans to retain the Cholula brand name in both the retail and foodservice channels.
To read the press release, click here.