News

McCormick completes Reckitt Benckiser’s Food Division acquisition

25 Aug 2017

McCormick has completed its acquisition of Reckitt Benckiser’s Food Division (RB Foods) from Reckitt Benckiser Group which was previously announced on July 18, 2017.

McCormick has completed its acquisition of Reckitt Benckiser’s Food Division (RB Foods) from Reckitt Benckiser Group which was previously announced on July 18, 2017.

The company says that the brands acquired, including Frank’s RedHot, French’s and Cattlemen’s are high quality assets and a natural strategic fit with McCormick’s robust global branded flavour portfolio. The purchase price was approximately $4.2 billion.

“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 Chief Executive Officer. “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.”