Numlock News: December 1, 2020 • Hot Sauce, Dry Ice, Named Storms
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By Walt Hickey Sauce McCormick & Co. has purchased Cholula Hot Sauce for $800 million from its private equity ownership. Cholula has about $96 million in yearly sales, and its acquisition means more condiments for the company best known as a spice maker, which also owns Frank’s RedHot as well as French’s mustard. McCormick has been a big winner during the shift of food preparation to the home, with sales up 8 percent last quarter despite deep drops in its restaurant business. Hot sauce in general is poised to be a winning investment: the U.S. market for hot sauce was $1.1 billion in 2010, and in 2022 hot sauce sales are projected to hit $1.65 billion, a 50 percent increase over the period.
Numlock News: December 1, 2020 • Hot Sauce, Dry Ice, Named Storms
Numlock News: December 1, 2020 • Hot Sauce…
Numlock News: December 1, 2020 • Hot Sauce, Dry Ice, Named Storms
By Walt Hickey Sauce McCormick & Co. has purchased Cholula Hot Sauce for $800 million from its private equity ownership. Cholula has about $96 million in yearly sales, and its acquisition means more condiments for the company best known as a spice maker, which also owns Frank’s RedHot as well as French’s mustard. McCormick has been a big winner during the shift of food preparation to the home, with sales up 8 percent last quarter despite deep drops in its restaurant business. Hot sauce in general is poised to be a winning investment: the U.S. market for hot sauce was $1.1 billion in 2010, and in 2022 hot sauce sales are projected to hit $1.65 billion, a 50 percent increase over the period.