Advent Agrees to Acquire Duke’s Mayo Owner Sauer Brands (1)

Buyout firm Advent International has agreed to acquire Sauer Brands Inc., the owner of the Duke’s mayonnaise brand, from Falfurrias Capital Partners.

Terms of the deal weren’t disclosed in a statement Monday, which confirmed an earlier report by Bloomberg News. The transaction values Sauer Brands at about $1.5 billion, according to people familiar with the matter who asked not to be identified because the details were confidential.

The deal comes after Sauer Brands had held talks with spice maker and distributor McCormick & Co., Bloomberg News previously reported.

Duke’s Mayonnaise.

Photographer: Michael Tercha/Chicago Tribune/Getty Images

Duke’s mayonnaise remains a hometown favorite in ...