Advent International to Acquire Duke's Mayonnaise Owner for $1.5 Billion, Reports Bloomberg

Investing.com -- Advent International has agreed to acquire Sauer Brands Inc., the owner of the Duke's mayonnaise brand, from Falfurrias Capital Partners. Bloomberg reported this information on Monday, citing sources close to the matter.

According to the report, the deal is valued at approximately $1.5 billion.

Sauer Brands had recently drawn attention due to discussions it was having with McCormick & Co., a leading spice producer and distributor. According to previous reports by Bloomberg, these discussions were part of the company's efforts to explore potential growth opportunities and partnerships.

The acquisition by Advent International is expected to bring new capital and resources to Sauer Brands, thus helping to expand and develop its product range, including the widely recognized Duke's mayonnaise brand.

According to the report, the announcement of the deal is expected to be made public as early as today.