Advent International to buy Duke Mayonnaise owner for $1.5 billion, Bloomberg reports on Investing.com

Investing.com – Advent International Agreed to buy Sauer Brands IncOwner of the Duke Mayonnaise brand, from Falfurias Capital partners (w:)Bloomberg reported on Monday, citing people familiar with the matter.

The deal is valued at approximately $1.5 billion, the report added.

Sauer Brands has been in the spotlight recently following its deal with popular spice maker and distributor McCormick (NYSE: ) & Company. Bloomberg previously reported. These conversations are part of the company’s strategic efforts to explore potential growth opportunities and partnerships.

The acquisition by Advent International is expected to bring new capital and resources to Sauer Brands to help expand and improve its product offerings, which include the popular Duke’s Mayonnaise brand.

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

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