This week, we're replaying some of our favorite Forbes stories from 2024.

Today on Forbes, the secret sauce behind this $350 million Japanese barbecue sauce, Grandma.

From a headquarters nestled between vineyards in Sonoma County, California,

pounds of ginger, rice

vinegar, miran, and sesame oil are sent to be mixed in large vats of what will soon become

Bacchan's Japanese barbecue sauce. The various flavors will then be piped into its signature

plastic squeeze bottles. Justin Gill, Bacchan's 43-year-old founder and CEO, points out that he was first

to use the now-trendy packaging that's ubiquitous on grocery store shelves. Gil says,

quote, I wanted to build a brand that was approachable and accessible, one that would work just as well

at Whole Foods as it would in Walmart.

The mass appeal of Bacchan's is one of many reasons why Gil's sweet and savory sauce started to stick soon after he launched the brand in 2019.

A beloved family recipe is another.

Bacchan's, named after the Japanese-American term for granny,

originated from a sauce his own grandmother made for decades.

Bacchan's is now the top-selling barbecue sauce at both Amazon and Whole Foods and the fastest-growing

condiment brand in the country.

With estimated annual revenue topping $70 million, Bacchan's is having the kind of moment

that made Saracha founder, David Tran, a billionaire.

Bacchan's is profitable, too, and Forbes estimates operating margins are as much as 20% annually.

Gil declined to comment on the revenue or profitability of his private business.

At a conservative five times multiple, Bacchan's could be worth more than $350 million,

and his company could get acquired for a lot more. Spice, after all, sells.

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