McCormick & Co. (NYSE:) is reportedly in negotiations to buy Sauer Brands Inc., a subsidiary of Falfurrias Capital Partners (WA:), according to Bloomberg on Monday evening. The acquisition could potentially amplify McCormick’s stake in the condiments sector.

Sauer, renowned for its Duke’s mayonnaise brand, could be valued over a billion dollars in the deal, as mentioned in the report. The discussions are still in progress and no agreement has been finalized, as per sources knowledgeable about the matter cited by Bloomberg.

Earlier this year, reports suggested that Falfurrias was considering selling Sauer.

Since its establishment in 1889, McCormick has consistently increased its market share in the condiments industry through strategic acquisitions. In 2020, the company acquired flavor producer Fona International and hot sauce manufacturer Cholula, in a deal totaling $1.5 billion.