Investing.com — Advent International agreed to buy Sauer Brands Incthe owner of Duke’s mayonnaise brand, from Falfurrias Capital Partners (W:)Bloomberg reported on Monday, citing people with knowledge of the matter.

The deal is worth approximately $1.5 billion, the report added.

Sauer Brands has recently been in the spotlight following its negotiations with McCormick (NYSE:) & Co., a prominent spice manufacturer and distributor, Bloomberg previously reported. These talks are part of the company’s strategic efforts to explore potential growth and partnership opportunities.

The acquisition of Advent International is expected to bring new capital and resources to Sauer Brands, potentially helping to expand and improve its offerings, which include the widely recognized Duke’s mayonnaise brand.

The announcement of the agreement is expected to be made public starting today, the report said.

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