Other firms have opted to diversify their spicy portfolio through M&A, including McCormick & Co., which purchased hot-sauce maker Cholula for $800 million in cash in 2020 and Frank’s RedHot three years earlier.

And what's with this almost parodic, coded sounding statement?

“We believe that Tapatio is poised to benefit from several secular trends that are dramatically reshaping consumer food choices, and we look to take advantage of the brand’s significant whitespace opportunity.”