Sales of three spice blends made by Indian companies MDH and Everest have been suspended in Hong Kong and Singapore. Credit: DUSAN ZIDAR / Shutterstock.com

US-based spices and seasonings maker Badia Spices is reportedly looking to sell off the company to a new buyer.

The family-owned group is planning to put the business on the market for up to $1.2bn, sources close to the issue told Reuters.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

Florida-headquartered investment bank Raymond James is said to be assisting Badia Spices with the sale.

The group’s latest 12-month gross earnings reached around $100m, sources told Reuters.

Raymond James and Badia Spices did not respond to requests for comment at the time of writing.

See Also:

Founded in 1967 in Florida by Jose Badia, the company produces and distributes a range of spices, marinades, seasonings, teas, sauces, tinned vegetables, side dishes, soup bases and other products.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Its goods are sold to retail, foodservice and wholesalers in over 70 countries worldwide. Manufacturing and distribution take place at its production site and two distribution plants in Doral, south Florida.

The company is run by president and CEO Joseph “Pepe” Badia and his three daughters.

Badia Spices’ potential sale comes at a time when its US peers have faced a tough trading environment.

In January, Frank’s hot sauce maker McCormick shared a “cautious” outlook for the new financial year as consumer trade down took a hit to fourth quarter volumes.

Discussing its fiscal year 2023 results for the period to 30 November, the company said it expected 2024 sales to sit around -2% to 0% compared to the previous year.

At the time, president and CEO of the Club House spices and seasonings brand, Brendan Foley, said: “While the fourth quarter was impacted by a pressured consumer exhibiting more value-seeking behaviour, our prioritised investments drove volume improvements in several key areas within our portfolio.

“In areas that were below our expectations, we understand the challenges, are addressing them, and are confident we will drive improved volume trends in 2024.”