Sector News

McCormick acquires Australian Herb Company

April 20, 2016
Food & Drink

McCormick & Co. said it has acquired privately held Australian firm Botanical Food Co. for roughly 150 million Australian dollars (US$114 million).

The U.S. spice and herb company said the acquisition of the maker of chilled packaged herbs complements its own brands. McCormick said in its news release that Botanical Food’s annual sales are roughly A$70 million and that the company exports to 15 countries. The U.S. is its biggest market.

McCormick expects the acquisition to boost its per-share earnings next year.

The deal comes McCormick walked away from making an offer for British food manufacturer Premier Foods PLC. McCormack said at the time that it wouldn’t be able to propose an offer price would be recommended by Premier Foods. McCormick, which already sells spices and flavorings in the U.K. under the Schwartz brand, had been interested in Premier to increase its presence in the U.K. grocery market.

By Tess Stynes

Source: The Wall Street Journal

comments closed

Related News

January 22, 2023

Danone unveils plan to cut methane emissions

Food & Drink

The company expects to eliminate 1.2 billion tons carbon dioxide equivalent of methane emissions by the end of the decade. The company says that it already reduced its methane emissions by around 14% between 2018 and 2020.

January 22, 2023

US researchers land US$2.4M to turn food waste into “affordable” bioplastics

Food & Drink

The “first-of-its-kind” pilot project will develop and demonstrate an affordable modular bioprocessing system to produce biodegradable bioplastics from food waste diverted from landfills. The three-year grant will test the scalability and feasibility of the conversion on a national and global scale.

January 22, 2023

Arkeon partners with ICL to transform CO2 into proteins

Food & Drink

Arkeon is allying with specialty mineral giant ICL to support the scaling of its fermentation bioprocess that converts CO2 into the 20 proteinogenic essential amino acids needed in human nutrition. The process, hailed as carbon negative, is based on the use of archaea, a group of microorganisms that naturally feeds off the greenhouse gas.

How can we help you?

We're easy to reach