Announced
Completed
Financials
Sources
Tags
Acquisition
Friendly
Majority
Private
natural flavors
Food Products
United States
Domestic
Single Bidder
Completed
Synopsis
McCormick, a company producing flavors, completed the acquisition of FONA International, a manufacturer of clean and natural flavors, for $710m. "The acquisition of FONA reinforces McCormick's global growth strategy as FONA expands the breadth of our flavor solutions segment into attractive categories, as well as extends our technology platform and strengthens our capabilities. This acquisition also accelerates the strategic migration of our portfolio to more value-added and technically insulated products and thus, is expected to be accretive to gross margin. FONA's portfolio is highly complementary to McCormick's and will provide our customers with an even more comprehensive product offering to meet the growing demand for clean and flavorful eating, drinking and nutrition experiences." Lawrence E. Kurzius, McCormick Chairman, President and Chief Executive Officer
© COPYRIGHT 2024 MERGERLINKS LIMITED.
ALL RIGHTS RESERVED.
15 BONHILL STREET, LONDON, EC2A 4DN, UNITED KINGDOM.