McCormick & Company has signed a definitive agreement to pay L Catterton $800 million to acquire the parent company of Cholula Hot Sauce, a premium hot sauce brand. The Cholula portfolio is made in Mexico based on a 100-year-old recipe comprised of a blend of fresh peppers and regional spices.
McCormick will retain the Cholula brand name in retail and foodservice channels. The transaction is expected to be completed by the end of this year.
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