Dwyane Wade, Dak Prescott & Travis Kelce among athletes profiting from $800m Cholula sale

This week, spice makers McCormick anunced y would buy hot-sauce maker Cholula from private-equity firm L Catterton. Cholula chipotle sauce company would be bought for $800 million, as y are looking to make a profit from packd goods in demand during COVID-19 pandemic. McCormick, who already own Frank’s RedHot and Old Bay hot sauce brands, will aim for Cholula next – who reportedly have $96 million worth of net sales. 

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Cholula hot sauce investment: Group of athletes will benefit from Cholula chipotle sales

As per Forbes, re are numerous athletes who will benefit from $800 million acquisition by McCormick. As of w, athletes like Dwyane Wade, Victor Oladipo, Travis Kelce, Dak Prescott, JJ Watt and Ryan Tannehill will be getting a return worth four times ir initial investment in hot sauce company. deal will likely be completed by end of 2020 and McCormick will adjust ir new income by 2021. 

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In December 2018, Cholula was bought by private firm L Catterton for an amount which was t made public. athletes who invested in company were introduced to L Catterton through Particof Co – an investment platform which provides free financial advice. However, y expect an annual investment of $500,000. 

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As per reports, it was easy to get Kelce in on deal. It was referred to as a -brainer, as he wanted to be involved in growth of a brand he already loves. As of w, investment has ended up working for both athletes and Patricof Co. company directs ir clients to companies like McCormick, which helps m create unique experiences altoger. 

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As people are cooking more at home due to COVID-19, brands like Kellogg (cereal) and Beyond Meat (plant-based meat patty) have experienced a surge in sales. McCormick mselves have seen an 8% jump in sales in latest reported quarter. This surge is coupled with hot sauce's popularity, which has grown in recent years.

(Im credits: Dak Prescott Instagram, AP)