Spice maker McCormick buys French’s, Frank’s RedHot food brands
LONDON — U.S. spice maker McCormick & Company is buying the maker of French’s mustard and other condiments in a $4.2 billion cash deal that it regards as a “perfect match.”
The Maryland-based company fought off rival bidders to purchase the Reckitt Benckiser food business. The deal, disclosed Tuesday, will create a combined group with annual sales of around US$5 billion.
French’s and Frank RedHot brands will become McCormick’s No. 2 and 3 brands, respectively.
“RB Foods’ focus on creating products with simple, high-quality ingredients makes it a perfect match for McCormick as we continue to capitalize on the growing consumer interest in healthy, flavourful eating,” said Lawrence E. Kurzius, McCormick’s CEO.