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McCormick Is Said in Talks to Buy Duke’s Mayo Owner Sauer Brands
McCormick & Co. is in talks to acquire Sauer Brands Inc. from Falfurrias Capital Partners, according to people with knowledge of the matter.
A transaction could value the company, best known for its Duke’s mayonnaise brand, at more than $1 billion, said one of the people, who asked not to be identified because the discussions are confidential. An agreement hasn’t been reached and talks could still end without one, or another buyer could emerge.
A spokesperson for McCormick said the company doesn’t comment on rumors and speculation. A representative for Falfurrias declined to comment.
Charlotte, North Carolina-based Falfurrias in 2019 acquired C.F. Sauer Co., which also produces other condiments, spices and herbs. Falfurrias began exploring a sale of the company, now known as Sauer Brands, this year, Reuters reported in April.
Duke’s mayonnaise remains a hometown favorite in the South. Sauer Brands traces the origins of the Duke’s brand to C.F. Sauer buying the recipe for the mayonnaise in 1929 from Eugenia Duke, a woman who sold sandwiches to soldiers stationed near Greenville, South Carolina.
In 2020, McCormick, based in Hunt Valley, Maryland, acquired flavor manufacturer Fona International for $710 million and hot sauce maker Cholula for $800 million. McCormick’s shares have climbed about 17% this year, giving it a market value of about $21.5 billion.
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