The spice company says it wants to grow in the ‘healthy, flavorful eating’ market
McCormick says it hopes to become a “one stop shop” for consumers’ flavoring needs.
McCormick & Company is expanding beyond spices with its recently announced acquisition of London-based consumer goods company Reckitt Benckiser, the makers of French’s mustard and Frank’s Red Hot sauce. The deal is expected to come in at $4.2 billion.
The company says that the acquisition will boost McCormick to an even higher position in the condiments category in the United States, and with the inheritance of Frank’s Red Hot, the company will gain the No. 1 hot sauce brand in the U.S. and Canada.
The move will also allow McCormick to become a “one-stop shop for condiment, spice, and seasoning needs,” Lawrence E. Kurzius, chairman, president, and chief executive officer at McCormick, said in a statement.
In June, Reckitt Benckiser acquired nutrition and infant formula company Mead Johnson, which McCormick will also take over in the deal, Financial Times reported.
To read about 5 condiments you can make at home, click here.