McCormick & Co. agreed to buy hot-sauce maker Cholula, seeking to capitalize on record demand for spicy condiments.
The seasonings company said Tuesday it reached a deal with L Catterton, the private-equity firm that has owned Cholula since 2019, to pay $800 million for the brand. The Wall Street Journal first reported Monday that such a deal, culminating an auction of the business, could come together as soon as Tuesday.
McCormick,…
This post first appeared on wsj.com
