McCormick & Co. to Acquire Additional 25% Stake in McCormick de Mexico JV for $750M

McCormick Acquires Cholula Hot Sauce from L Catterton

November 24, 2020

Food & Beverage

McCormick & Company agreed to acquire Cholula, a leading hot sauce producer and distributor, from private equity firm L Catterton for $800 million. L Catterton had acquired and transformed Cholula in April 2019, investing behind the brand and commercial capabilities to drive retail and foodservice growth prior to the sale.

Kraft Heinz Acquires Majority Stake in Hemmer

April 1, 2022

Food & Beverage

The Kraft Heinz Company completed the acquisition of a majority stake in Companhia Hemmer Indústria e Comércio, a 107-year-old Brazilian food company based in Blumenau, Santa Catarina. The deal—approved without restriction by Brazil's antitrust body CADE—expands Kraft Heinz's Taste Elevation platform and accelerates its growth and distribution in the Brazilian retail and foodservice channels.

The Kraft Heinz Company Acquires Majority Stake in Just Spices

April 26, 2023

Food & Beverage

The Kraft Heinz Company agreed to acquire an 85% stake in Germany-based Just Spices GmbH, with the remaining 15% retained by its three founders. The deal was designed to accelerate Kraft Heinz’s international “Taste Elevation” and strengthen its technology-enabled direct-to-consumer growth.

C.H. Guenther & Son Acquires Fresca Mexican Foods

June 23, 2025

Food & Beverage

San Antonio-headquartered C.H. Guenther & Son (CHG), a Pritzker Private Capital-backed food manufacturer, has acquired Fresca Mexican Foods, a Caldwell, Idaho-based producer of flour and corn tortillas and tortilla chips. The acquisition expands CHG's tortilla manufacturing capacity, adds Fresca's 190,000 sq. ft. facility and ~375 employees, and deepens CHG's relationships with QSR, foodservice and private-label customers.

PepsiCo Completes Acquisition of Siete Foods (Garza Food Ventures LLC) for $1.2 Billion

January 17, 2025

Food & Beverage

PepsiCo has closed its acquisition of Garza Food Ventures LLC, doing business as Siete Foods, for $1.2 billion. The deal expands PepsiCo’s convenient foods portfolio with Siete’s heritage-inspired, better-for-you Mexican-American brands and products.

McCormick & Company Acquires FONA International

December 30, 2020

Food & Beverage

McCormick & Company, Inc. agreed to acquire 100% of FONA International, LLC for $710 million in cash. FONA is a privately held manufacturer of clean and natural flavors headquartered in Illinois with approximately $114 million in annual sales and ~220 employees; McCormick said the deal expands its flavor solutions portfolio, technology capabilities and clean/natural offerings and is expected to be accretive to gross margin.