LONDON — McCormick & Company will account for more space in American cupboards after agreeing to buy French’s mustard and Frank’s Red Hot sauce in a deal worth $4.2 billion.
The spice maker, which is based in Sparks, Md., near Baltimore, will acquire the food business of Reckitt Benckiser, the British consumer-goods company, and intends to finance the deal through a combination of debt and equity. The business includes the French’s, Frank’s Red Hot and Cattlemen’s brands.
The sale, announced late Tuesday, came after Reckitt Benckiser announced a strategic review in April of its food business.
The acquisition of Frank’s Red Hot, French’s mustard and “other beloved products enables McCormick to become a one-stop shop for condiment, spice and seasoning needs, providing our customers and consumers with an even more diverse and complete flavor product offering,” Lawrence E. Kurzius, the McCormick chairman, president and chief executive, said in a news release.
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6 comments:
This is a big WOW for MD. How about a 2nd "satellite" facility around here? Lots of flat land....just tryin to be positive.
Hey GOV, you love the eastern shore....lil love our why???
Why NOT?
Never going to happen. If anywhere it would be near Rising Sun, MD.
McCormick also owns the Baltimore Spice Co that makes "Old Bay".
uuummmmm mustard. Put it on sweet potato fries!
Is it now going to come in quarter ounce bottles at $90 per pound like most McCormick spices?
Billions, for MUSTARD? Holy smoke!
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