Maryland, USA based McCormick & Company, is in process to acquire Italian flavoring company Enrico Giotti for €120 MN(around $127MN). The transaction is supposed to be closed all in cash after certain closing adjustments are fulfilled.
Giotti is known for its beverage, sweet, savory and dairy flavoring products and currently has annual sales of approximately €53MN($55.38MN).
About McCormick & Company
McCormick & Company was founded in 1889 and is currently headquartered in Sparks, Maryland, USA. It manufactures, markets and distributes spices, seasoning mixes, condiments and other flavorful products to the entire food industry – retail outlets, food manufacturers and foodservice businesses.
McCormick has approximately 8,000 employees. And its brands include McCormick; Zatarain’s, Lawry’s, Old Bay Seasoning, Mojave Foods, Thai Kitchen and Simply Asia (United States); Ducros, Drogheria & Alimentari, Kamis, Margao, Silvo, and Vahine (Europe); Club House spices and Billy Bee Honey (Canada); Schwartz (United Kingdom); Aeroplane Jelly and Keen’s Mustard (McCormick Foods Australia); Kamis (Poland).