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Hot-sauce company Tapatío is working with Stout on a sale, three sources familiar tell Axios Pro.

The big picture: Condiments are hotter than ever.

By the numbers: Privately held Tapatío is said to be on track to post $100 million in 2025 revenue.

In August, the Japanese BBQ brand Bachan's hired Centerview Partners to test the market. Bachan's is on track for $100 million in revenue this year.

McCormick & Co, which one source said is a potential buyer of Bachan's, acquired the Cholula brand from L Catterton in 2020 for $800 million.

Earlier this year, Advent International acquired the Sauer Brands condiment line, best known for the Duke's Mayo brand.

Zoom in: Founded in 1971, Vernon, California-based Tapatío sells its ubiquitous hot sauce, as well as a salsa, and a line of frozen food products.

Zoom out: Some of the major food strategics are a bit distracted.

In July, Ferrero agreed to buy WK Kellogg in a $3.1 billion deal.

In September, Kraft Heinz split into two publicly traded companies: Global Taste Elevation Co. and North American Grocery Co.

Pepsi is being pressured to spin off several of its brands.

Yes, but: During their earnings calls, executives at PepsiCo. and McCormick said they're in the market for a deal.

Tapatío and Stout both declined comment.

Scoop: Hot sauce company Tapatío hits the market

Condiments are hotter than ever and sauce deals are flowing.

Animated illustration of a thermometer in the shape of a dollar bill sign, with temperature rising rapidly

Hot-sauce company Tapatío is working with Stout on a sale, three sources familiar tell Axios Pro.The big picture: Condiments are hotter than ever.

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Scoop: Hot sauce company Tapatío hits the market

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