Investing.com – Advent International I agreed to purchase Sawyer Brands Incowner of the Duke mayonnaise brand, from Falfurrias Capital Partners (w:)Bloomberg reported on Monday, citing people familiar with the matter.
The report added that the value of the deal is about $1.5 billion.
Sauer Brands recently came into the spotlight after its negotiations with McCormick (NYSE:) & Co., a prominent spice manufacturer and distributor, Bloomberg reported earlier. These conversations were part of the company's strategic efforts to explore growth opportunities and potential partnerships.
The acquisition by Advent International is expected to bring new capital and resources to Sauer Brands, which could help expand and enhance its product offerings, which include Duke's widely recognized mayonnaise brand.
The report said that the agreement is expected to be announced early today.
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