Making a tasty, tangy sauce takes a little bit of spice, but the maker of French’s Mustard and Frank’s RedHot brands is about to get a lot of spice: Ingredients maker McCormick & Company – the company behind those red bottles of seasonings and brands Lawry’s, Zatarain’s, Old Bay, and others — will buy condiment maker Reckitt Benckiser for $4.2 billion. But don’t expect the deal to change the condiment aisle too much.
McCormick announced today that the company had signed a definitive agreement to acquire UK-based RB’s Food Division, which includes brands like Frank’s RedHot Hot Sauce, French’s Mustard, and others.
The Maryland-based spice and herb manufacturer says that acquiring Reckitt’s brands will allow the company to strengthen its condiment category and advance the company’s vision to “bring the joy of flavor to life.” The company plans to keep the French’s, Frank’s RedHot, and Cattlemen’s barbecue sauce brands intact with little change.
In fact, following the acquisition, McCormick says that French’s and Frank’s RedHot brands will become its No. 2 and No. 3 brands, respectively.
The $4.2 billion deal, which is expected to close in late 2017 depending on board approval, is anticipated to result in annual net sales of $5 billion.
by Ashlee Kieler via Consumerist
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