McCormick finalizes Reckitt Benckiser acquisition

by Monica Watrous
Share This:
Search for similar articles by keyword: [McCormick]

Reckitt
The $4.2 billion deal includes the Frank's RedHot hot sauce, French's mustard and Cattlemen's barbecue sauce brands.
 
SPARKS, Md. — McCormick & Co. Inc. has completed its acquisition of the food business of the Reckitt Benckiser Group, Parsippany, New Jersey. The $4.2 billion deal was announced July 18 and includes the Frank’s RedHot hot sauce, French’s mustard and Cattlemen’s barbecue sauce brands.

Lawrence
Lawrence Kurzius, chairman, president and CEO of McCormick

“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 E. Kurzius, chairman, president and CEO. “McCormick is the perfect home for brands like Frank’s RedHot and French’s as their simple, clean ingredients make them liquid spice. The addition of these highly complementary brands will allow McCormick to continue to take advantage of the growing trend toward spicy, flavorful eating with natural, high-quality ingredients and advances our vision to ‘Bring the Joy of Flavor to Life.’  The talented employees of RB Foods have built a great business, and we look forward to working with them to achieve continued success.”

RB Foods is forecast to generate $581 million in revenue during 2017 with an adjusted EBITDA of $215 million, according to McCormick. The two businesses combined will have approximately $5 billion in sales. 

Comment on this Article
We welcome your thoughtful comments. Please comply with our Community rules.

 

 


The views expressed in the comments section of Meat and Poultry News do not reflect those of Meat and Poultry News or its parent company, Sosland Publishing Co., Kansas City, Mo. Concern regarding a specific comment may be registered with the Editor by clicking the Report Abuse link.