Posted on 11/25/2020 2:39:21 AM PST by mylife
McCormick is adding a bit more spice to its portfolio with hot sauce Cholula.
The company is acquiring the brand from L Catterton, the private equity firm, in an $800 million cash deal, it said Tuesday. It expects to close the deal this year. The hot sauce market has been growing steadily. US sales of hot sauce grew an average of 9.7% every year for the past four years, according to Nielsen. The category got a boost during the pandemic: In the twelve months ending on November 7, sales surged by 24.6%. With the purchase of Cholula, McCormick (MKC) is building something of a hot sauce empire. The company bought the category leader, Frank's RedHot, in 2017. With Cholula, the two brands make up about 30% of the US hot sauce market, according to Euromonitor International and Nielsen data provided by Cholula. Together, that puts the pair far ahead of competitors like Tabasco and Huy Fong Foods, the maker of sriracha sauce.
(Excerpt) Read more at cnn.com ...
Ketchup is too hot for me....
I just gotta ask. Is it made with real Tigers ?
Sounds like a great place to visit. Do they let you sample all of their sauces during the visit?
No, you don’t get it.
Avery Island is a money machine. They charge for everything.
It is however a really great place to visit. They have a food truck/kitchen that serves up jambalaya that is fantastically scrumptious. Ditto the filet gumbo
It is the very essence of southern Louisiana
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