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Started By
Message
McCormick Buys Hot-Sauce Maker Cholula
Posted on 11/25/20 at 10:49 am
Posted on 11/25/20 at 10:49 am
5
Posted on 11/25/20 at 10:57 am to Stadium Rat
Amazing--they paid $800 million for a company with only $90 million in gross sales.
Posted on 11/25/20 at 10:57 am to Stadium Rat
I didn't realize Cholula was still independent up until now.
Another few years and there won't be any independent products left and they'll all be owned by conglomerates.
Louisiana Hot Sauce is owned by Southeastern Mills Inc.
Zapps is owned by UTZ
Popeyes is owned by Restaurant Brands International
Zatarains is owned by McCormick
The list goes on and on.
Another few years and there won't be any independent products left and they'll all be owned by conglomerates.
Louisiana Hot Sauce is owned by Southeastern Mills Inc.
Zapps is owned by UTZ
Popeyes is owned by Restaurant Brands International
Zatarains is owned by McCormick
The list goes on and on.
Posted on 11/25/20 at 10:58 am to JDGTiger
quote:
they paid $800 million for a company with only $90 million in gross sales.
Posted on 11/25/20 at 10:59 am to Stadium Rat
I like Cholula though I can't figure out why it's called a hot sauce due to the lack of heat
Posted on 11/25/20 at 11:20 am to JDGTiger
quote:
Amazing--they paid $800 million for a company with only $90 million in gross sales.
I've read over $90 million in net sales. Where did you get this figure? Do you think they overpaid?
Posted on 11/25/20 at 11:22 am to KamaCausey_LSU
quote:
I didn't realize Cholula was still independent up until now.
It's owned by a P/E firm. Is that really independent?
Posted on 11/25/20 at 11:34 am to Mo Jeaux
quote:
It's owned by a P/E firm. Is that really independent?
Ah, didn't see that. Nevermind then.
Should have googled it. Sale finalized from Jose Cuervo to L Catteron in 2019.
I wonder if that was the plan all along for McCormick to acquire Cholula without buying it from Jose Cuervo.
This post was edited on 11/25/20 at 12:09 pm
Posted on 11/25/20 at 11:54 am to KamaCausey_LSU
quote:
Zatarains is owned by McCormick
McK screwed up Zats and will do the same to Cholula
Posted on 11/25/20 at 12:00 pm to KamaCausey_LSU
quote:
Another few years and there won't be any independent products left and they'll all be owned by conglomerates.
Louisiana Hot Sauce is owned by Southeastern Mills Inc.
Zapps is owned by UTZ
Popeyes is owned by Restaurant Brands International
Zatarains is owned by McCormick
The list goes on and on.
Them McIlhenneys still holding strong it seems.
They've got to be like the Holy Grail of remaining independent food product brands at this point.
This post was edited on 11/25/20 at 12:15 pm
Posted on 11/25/20 at 12:15 pm to Stadium Rat
I guess I'm in the minority, but I don't care for Cholula
Posted on 11/25/20 at 12:28 pm to upgrayedd
You’re in the minority. It hammers.
Posted on 11/25/20 at 1:03 pm to Y.A. Tittle
Crystal still out there holding strong.
Posted on 11/25/20 at 1:05 pm to lighter345
That green Cajun Chef is the bomb
Posted on 11/25/20 at 1:33 pm to upgrayedd
quote:
I guess I'm in the minority, but I don't care for Cholula
It’s delicious when you want some chili flavor without any heat.
I assume my previous post got downvoted but a bunch of Yankees who find this sauce spicy.
Posted on 11/25/20 at 2:09 pm to upgrayedd
If you like green hot sauce, Cholula jalapeño and poblano is awesome.
Posted on 11/25/20 at 2:16 pm to JDGTiger
quote:
Amazing--they paid $800 million for a company with only $90 million in gross sales.
Sales and Valuations are not the same thing.
Biznus is hard.
Posted on 11/25/20 at 2:38 pm to KamaCausey_LSU
They are just buying out the competition.
Some have heard me say that I reversed engineered Zatarain's crab boil for McCormick 20 years ago. I did three formulas for them. A New England style, a New Orleans (Zatarain's) style. and a Hot style (Zatarain's with heat). We (the company I worked for) made the blends using McCormick spices and filled them in the little plastic bags, on our equipment.
McCormick said my Zatarain's blend was the closest they had ever tried to Zatarain's. The other two were very good. As far as I know, they still buy the blend packaged by the company I worked for (VP Product Development).
I knew old man Zatarain back in the day. He could squeeze a quarter out of two dimes. The main difference between my blend and his was we used McCormick spices and they were 100X fresher than Zatarain's, who bought them from a NJ company we also sold filled spices to. The other spice guy's product was OK, just really old.
It surprises me that, other then buying out their competition, McCormick bought Cholula. They, many years back, had several very good liquid pepper blends, developed in house, just not sure they ever put any on the market, at least when we were doing business with them.
Once, they asked if we would bottle liquids for them, but that was not a part of our business plan and we stepped away from the discussion. Back then, I had a very good formula for liquid pepper sauce, but we did not have any hot bottling equipment. I'm not sure who bottles the Zatarain's liquid crab boil. I am sure that bottling line will take your breath away (Hot).
I'm not sure what happened to my formulas. By contract, they did not belong to me.
Some have heard me say that I reversed engineered Zatarain's crab boil for McCormick 20 years ago. I did three formulas for them. A New England style, a New Orleans (Zatarain's) style. and a Hot style (Zatarain's with heat). We (the company I worked for) made the blends using McCormick spices and filled them in the little plastic bags, on our equipment.
McCormick said my Zatarain's blend was the closest they had ever tried to Zatarain's. The other two were very good. As far as I know, they still buy the blend packaged by the company I worked for (VP Product Development).
I knew old man Zatarain back in the day. He could squeeze a quarter out of two dimes. The main difference between my blend and his was we used McCormick spices and they were 100X fresher than Zatarain's, who bought them from a NJ company we also sold filled spices to. The other spice guy's product was OK, just really old.
It surprises me that, other then buying out their competition, McCormick bought Cholula. They, many years back, had several very good liquid pepper blends, developed in house, just not sure they ever put any on the market, at least when we were doing business with them.
Once, they asked if we would bottle liquids for them, but that was not a part of our business plan and we stepped away from the discussion. Back then, I had a very good formula for liquid pepper sauce, but we did not have any hot bottling equipment. I'm not sure who bottles the Zatarain's liquid crab boil. I am sure that bottling line will take your breath away (Hot).
I'm not sure what happened to my formulas. By contract, they did not belong to me.
This post was edited on 11/25/20 at 2:42 pm
Posted on 11/25/20 at 3:12 pm to Duane Dibbley
Green Cholula is tGOAT
Posted on 11/25/20 at 3:49 pm to MeridianDog
So MD, that is an awesome story.
Is this the product you came up with?
Is this the product you came up with?
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