America loves hot sauces. And so does McCormick—enough to throw down $800 million in cash for the ever-popular Cholula sauce, which reportedly fetches more than $90 million in annual sales.
Famous for its brand-name spices and seasoning blends, McCormick’s multi-billion dollar portfolio is formidable; it also includes French’s mustard, Old Bay, Zatarain’s, and Frank’s RedHot wing sauce.
Cholula sauce blazed into the U.S. market in 1989 after enjoying widespread success in Mexico. It is distinguished by semi-hot arbol and piquin chili peppers, and sold in glass bottles topped by round, wooden caps. A family from Jalisco, Mexico created the sauce generations ago before it was partially altered for mass distribution.
The pending acquisition involves seller L Catterton, a global investment firm that bought Cholula in 2018 from previous licensee, Jose Cuervo.
(Lead image from eBay)