Spice company pays US$4.2 billion for condiment brands
Included in the deal, McCormick to own French’s, Cattlemen's, and Frank’s Red Hot condiments.
July 21, 2017
by Canadian Packaging staff
McCormick & Co. has agreed to purchase the condiment brands of French’s condiments, Cattlemen‘s barbecue sauces, and Frank’s Red Hot sauces in a condiment deal worth US$4.2 billion.
Headquartered in Sparks, Maryland, McCormick is purchasing the brands from Reckitt Benckiser, a British consumer goods company that has opted to move away from the food market segment, concentrating on its other brands such as Clearasil acne medicine, Durex condoms and Mucinex cold medicine.
In June of 2017, Reckitt Benckiser recently completed its purchase of Mead Johnson Nutrition and its Enfamil baby formula in a deal worth US$16.6 billion.
French’s, who produce mustard and ketchup among other condiment products, gained Canadian consumer confidence after it said all of its ketchup sold in Canada would be made in Canada in direct response to market leader Heinz closing its Canadian production operations.
McCormick, which started operation in 1889, is very well known for its self-named brand of McCormick spices, but also owns the brands Old Bay seasonings and Billy Bee honey.
A McCormick spokesperson notes that there are no plans to alter the manufacturing process of French’s condiments in Canada.