Sauer Brands Joins Advent International's Portfolio Following Acquisition
Deal News | Feb 19, 2025 | Advent International
Sauer Brands has been acquired by Advent International from Falfurrias Capital Partners. The completion of this transaction marks another expansion for Advent, a prominent global private equity firm, into the consumer brands sector, particularly with a focus on condiments and seasonings. This development includes the strategic hiring of seasoned industry executive E. Yuri Hermida as the new CEO of Sauer Brands, effective March 12. Hermida brings extensive experience from major consumer goods firms, including his recent tenure at Constellation Brands. Todd Lachman, now serving as Chair of the Board at Sauer, praised Hermida's capabilities, suggesting an accelerated growth trajectory for the company. Advisors to the deal included Morgan Stanley & Co., McGuireWoods LLP, William Blair & Company, Centerview Partners LLC, and Weil, Gotshal & Manges LLP. Sauer Brands, known for its legacy in creating flavors through brands like Duke's Mayonnaise and The Spice Hunter, is set to explore new avenues under Advent's guidance.
Sectors
- Private Equity
- Consumer Goods
- Food and Beverage
Geography
- United States – Sauer Brands is based in the U.S. with facilities in several states and is being acquired by Advent International, which operates globally.
- Global – Advent International is a global private equity firm with a reach across five continents, indicating the international scope of the acquisition.
Industry
- Private Equity – Advent International, a leading global private equity firm, is the acquirer of Sauer Brands.
- Consumer Goods – Sauer Brands is a consumer goods company specializing in condiments, seasonings, and other food products.
- Food and Beverage – The transaction involves products within the condiments and seasonings segment of the food industry.
Financials
- Not disclosed – Terms of the transaction between Advent International and Falfurrias Capital Partners for Sauer Brands were not disclosed.
- 93.5 billion USD – Assets under management by Advent International as of September 30, 2024.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Sauer Brands Inc. | Target Company | Company | A leading platform of condiment and seasoning brands. |
| Advent International | Bidding Company | Company | A global private equity firm acquiring Sauer Brands. |
| Falfurrias Capital Partners | Selling Company | Company | The previous owners of Sauer Brands. |
| E. Yuri Hermida | CEO of Sauer Brands | Person | Appointed CEO of Sauer Brands, effective March 12, with a background in scaling consumer brands. |
| Todd Lachman | Board Chair of Sauer Brands | Person | Serves as Chair of the Board of Directors at Sauer Brands. |
| Morgan Stanley & Co. LLC | Lead Financial Advisor to Sauer Brands | Company | Provided financial advisory services for the transaction. |
| McGuireWoods LLP | Legal Advisor to Sauer Brands | Company | Provided legal advisory services for the transaction. |
| William Blair & Company, L.L.C. | Co-Financial Advisor to Sauer Brands | Company | Provided financial advisory services alongside Morgan Stanley. |
| Centerview Partners LLC | Financial Advisor to Advent | Company | Provided financial advisory services to Advent International. |
| Weil, Gotshal & Manges LLP | Legal Advisor to Advent | Company | Provided legal advisory services to Advent International. |