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
Danone has appointed Carla Hilhorst to the newly created position of senior vice president of research and innovation categories and zones, as the company looks to make science the heart of its business. Hilhorst, who brings over 30 years of experience in research and innovation, will report directly to Isabelle Esser, Danone’s chief research, innovation, quality and food safety officer.
The move, part of Pernod Ricard’s strategy to enhance its premiumisation efforts, will allow the company to focus more resources on its portfolio of premium international spirits and champagne brands that drive the growth of its business. This decision aligns with the company’s commitment to delivering sustainable value for shareholders, employees, clients and partners.
Schai – who is the current CEO of Swiss chocolate company Lindt & Sprüngli’s Australian operation – has previously worked with Aryzta from 2015-2018, where he served in roles including managing director for Asia Pacific and global strategic business lead (McDonald’s). The fast-food giant McDonald’s is one of Aryzta’s significant clients.
