Buyout Firm Falfurrias Raises $1.35 Billion for Midsize Deals
Falfurrias Management Partners, the private equity firm that sold Duke's Mayo owner Sauer Brands this year, closed a new buyout fund totaling $1.35 billion to target middle-market companies.
The latest fund, Falfurrias Capital Partners VI, topped its predecessor's $850 million haul in 2021, according to a statement reviewed by Bloomberg News.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Journals
16 hours ago
- Business Journals
Hugh McColl turns 90 and McColl Park opening: 'If you let yourself do nothing, you'll die'
Never miss an episode of The Voice of Business in the Charlotte Region. Subscribe now on Apple Podcasts, Spotify or wherever you get your podcasts. As Hugh McColl approaches his 90th birthday, he shows no signs of slowing down. 'As long as you're busy, you don't have a lot of time for dying,' said McColl, the co-founder and chairman emeritus of Falfurrias Management Partners and former chairman and CEO of Bank of America. In this special episode of The Voice of Business in the Charlotte Region, a podcast miniseries brought to you by CLT Alliance and the CBJ, McColl sits down with Andrea Smith, strategic advisor for the Charlotte Regional Business Alliance, and Keith Cockrell, president of Bank of America Charlotte and head of Global Sports Sponsorships, for a wide-ranging interview. In the conversation, McColl discusses the grand opening of McColl Park, shares stories from early in his career, as well as the lessons and philosophies that continue to drive him to this day. expand Listen to this episode to learn more about: • How the Marine Corps became McColl's 'graduate school' in management • Why McDonald's inspired McColl's vision for banking expansion • What makes Charlotte unique — and the people shaping its legacy of community impact • Bringing an NFL team to Charlotte • Attracting and retaining young talent • McColl's secret to success • The impact of the Wake Forest University School of Medicine on the Queen City
Bloomberg
25-03-2025
- Bloomberg
Buyout Firm Falfurrias Raises $1.35 Billion for Midsize Deals
Falfurrias Management Partners, the private equity firm that sold Duke's Mayo owner Sauer Brands this year, closed a new buyout fund totaling $1.35 billion to target middle-market companies. The latest fund, Falfurrias Capital Partners VI, topped its predecessor's $850 million haul in 2021, according to a statement reviewed by Bloomberg News.
Yahoo
08-01-2025
- Yahoo
Advent Reaches Deal for Duke's Mayo Owner Sauer Brands
(Bloomberg) -- Buyout firm Advent International has agreed to acquire Sauer Brands Inc., the owner of the Duke's mayonnaise brand, from Falfurrias Capital Partners. NYC's Subway Violence Deters Drive to Bring Workers Back to Office Can American Drivers Learn to Love Roundabouts? Don't Shrink the Bus Is This Weird Dome the Future of Watching Sports? NYC Congestion Pricing Takes Effect After Years of Delays 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 remains a hometown favorite in the American South. Sauer Brands traces the origins of the Duke's brand to C.F. Sauer buying the recipe for the mayonnaise in 1929 from Eugenia Duke, a woman who sold sandwiches to soldiers stationed near Greenville, South Carolina. 'It's easy to see why consumers have long been drawn to Duke's differentiated taste profile and we are excited to share this well-loved brand with a growing consumer base,' Advent Managing Director Tricia Glynn said in the statement. Charlotte, North Carolina-based private equity firm Falfurrias, co-founded by former Bank of America Corp. Chief Executive Officer Hugh McColl, acquired C.F. Sauer Co. in 2019. The company's brands also include Mateo's salsa and Spice Hunter. 'We are confident that the company is strategically positioned for further success under Advent's ownership,' Falfurrias partner Chip Johnson added. Boston-based Advent, with about $89 billion in assets under management, has racked up more than 420 investments. Many of its investments have been in the consumer sector, including food and beverage companies such as Sovos Brands, which was bought by Campbell Soup Co. in a transaction completed last year. Todd Lachman, the founder and former CEO of Sovos Brands, will become the board chair of Sauer Brands, according to the statement. Advent and Falfurrias have worked together before. Advent bought restaurant chain Bojangles from Falfurrias in 2011, according to its website. Advent also focuses on investments in the business and financial services, health-care, industrial and technology sectors. Last year, Advent struck a $6.3 billion deal to acquire payments company Nuvei Corp. in April, and made a multibillion-dollar investment in software maker Prometheus Group in June. (Updates with statement in second paragraph.) The US's Worst Fears of Chinese Hacking Are on Display in Guam Elon Musk Is Not Having a Happy New Year Why Everyone's Obsessed With Meat Sticks and Cottage Cheese Zyn's Online Hype Risks Leading to the Nicotine Pouches' Downfall What Will Elon Musk Do in 2025? ©2025 Bloomberg L.P. Sign in to access your portfolio
