Advent International to acquire Duke’s Mayonnaise owner for $1.5B, Bloomberg reports via Investing.com

Investing.com – Advent International agreed to buy Sauer Brands Incowner of Duke’s Mayonnaise, since Falfurrias Capital Partners (WA:)Bloomberg reported on Monday, citing people with knowledge of the matter.

The deal is worth about $1.5 billion, the report said.

Sauer Brands recently came to light following its negotiations with McCormick (NYSE:) & Co., a well-known spice manufacturer and distributor, Bloomberg previously reported. These discussions were part of the company’s strategic efforts to explore potential growth opportunities and synergies.

The acquisition of Advent International is expected to bring new capital and resources to Sauer Brands, which could help expand and improve its product offering, which includes the popular Duke’s mayonnaise brand.

The announcement of this agreement is expected to be made public from today, said the report.

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