Last updated on June 13th, 2024 at 04:52 pm
McCormick & Company said Aug. 17 that it has completed its acquisition of Reckitt Benckiser’s Food Division, a deal that first was announced on July 18.
The brands acquired include Frank’s RedHot, French’s and Cattlemen’s.
McCormick officials said the brands are high-quality assets and a natural strategic fit with McCormick’s “robust global branded flavor portfolio.”
“We are thrilled to acquire Frank’s RedHot, French’s and other iconic, market-leading brands, as we complete a transaction that has been at the top of our strategic list for over a decade and will generate significant shareholder value,” said Lawrence Kurzius, chairman, president and CEO of McCormick, which is based in Sparks, Maryland.
“McCormick is the perfect home for brands like Frank’s RedHot and French’s, as their simple, clean ingredients make them liquid spice,” he added.
The addition of the brands will allow McCormick to meet the growing trend toward spicy, flavorful food made with natural, high-quality ingredients, said Kurzius.
With $4.4 billion in annual sales, McCormick manufactures, markets and distributes spices, seasoning mixes, condiments and other flavorful products to retail outlets, food manufacturers and foodservice businesses.
