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Stock impact report

L Catterton to buy Jose Cuervo-backed hot sauce brand Cholula [Reuters (UK)]

McCormick & Company, Incorporated (MKC) 
Last mccormick & company, incorporated earnings: 3/31 06:30 am Check Earnings Report
Company Research Source: Reuters
L Catterton to buy Jose Cuervo-backed hot sauce brand Cholula | Reuters 3 Min Read NEW YORK (Reuters) - Buyout firm L Catterton said on Tuesday it has agreed to acquire Cholula, a privately held hot sauce producer whose investors include Mexican tequila producer Jose Cuervo ( CUERVO.MX ), in a bet that zesty condiments will continue to become more popular with U.S. consumers. U.S. sales of hot sauces are at an all-time high, led by millennials and a growing Latino population. Named after the Mexican city in Puebla and distinguished by the wooden knob-cap on its bottles, Cholula has become a fixture at many fast casual and Mexican restaurants in the United States. “Cholula represents a compelling opportunity to invest in a premium brand with an established reputation for quality and authenticity in the growing hot sauce category,” L Catterton Global Co-Chief Executive Scott Dahnke said in a statement. Terms of the deal were not disclosed. L Catterton sees an opportunity to continue e Show less Read more
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