Private Equity Investor Acquires Duke's Mayo Parent CompanyPrivate Equity Investor Acquires Duke's Mayo Parent Company

Advent International will acquire Sauer Brands Inc., a scaled platform of leading condiments and seasonings brands, from Falfurrias Capital Partners.

Sauer Brands includes Duke’s Mayo, Mateo’s Gourmet Salsa, and Kernel Season’s, Spice Hunter, and others. The company is best known for Duke’s Mayo, a mayonnaise brand founded in 1917. Today, Duke’s is the fastest growing scaled player in the mayo category and the seventh fastest-growing brand in the center of store.

“Today represents another milestone moment for the evolution and future of Sauer Brands,” said Bill Lovette, chief executive officer of Sauer Brands. “I share this achievement with our entire team, which has continuously raised the bar for our industry. With Advent’s strong industry track record, global network and operational support, Sauer Brands is in a position to thrive in its next chapter.”

Advent International works in partnership with management teams, entrepreneurs, and founders to help transform businesses and has 16 offices across five continents.

The firm has developed significant expertise investing in the global food space, and this investment demonstrates its continued enthusiasm about this category. Prior Advent investments include Sovos Brands (sold to The Campbell’s Co.); Grupo CRM (sold to Nestlé); IRCA, an international leader in chocolate, creams, and semi-finished food ingredients; and Indian snack food producer DFM Foods.

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“With a more than 135-year history, Sauer Brands has established itself as a standout player in the highly attractive condiments and seasonings categories. Despite its long history, we believe that the Company is still in the early innings of growth,” said Tricia Glynn, a managing partner at Advent International. “It’s easy to see why consumers have long been drawn to Duke’s differentiated taste profile and we are excited to share this well-loved brand with a growing consumer base. We believe that Advent’s extensive experience investing in growth consumer brands at scale will enable us to partner with Sauer Brands on an ambitious growth strategy, and we’re thrilled to welcome the company to our portfolio.”