McCormick Is Shifting From the Spice Rack to the Refrigerator With This $45 Billion Deal
McCormick is combining with Unilever's food division to reduce its exposure to private label competition.
Overview
The spice aisle will no longer determine McCormick's (NYSE: MKC) fate. In March, the 137-year-old company announced an agreement to merge with Unilever's (NYSE: UL) food division, a business 1.5 times its size, in a $45 billion transaction.
Details
The deal adds established brands like Hellmann's mayonnaise and Knorr bouillon to McCormick's portfolio, alongside household favorites like French's mustard and Frank's RedHot sauce.
Source
Originally published at www.fool.com.
Related Articles
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.