Advent International, a global private equity firm, has reached a deal to acquire Richmond-based Sauer Brands Inc., the company behind Duke's Mayo.

In 2019, Falfurrias acquired condiment, sauce and spice manufacturer Sauer Brands, known for its Duke’s mayonnaise brand. Other brands include Mateo’s Gourmet Salsa and Kernel Season’s. Terms of that deal also were undisclosed.

Buyout firm Advent International has agreed to acquire Sauer Brands Inc., the owner of the Duke’s mayonnaise brand, from Falfurrias Capital Partners, according to people with knowledge of the matter.

A Charlotte private equity firm plans to sell the company that owns the iconic Duke's Mayo brand. Advent International, a global private equity firm, has reached a deal to acquire Sauer Brands Inc., a company known for its portfolio of condiments and seasonings brands,