Spice maven McCormick & Co. of Sparks,Maryland has acquired Australian vendor Botanical Food Company Pty Ltd for 114 million dollars.Botanical owns the Gourmet Garden line of packaged herbs.Gourmet Garden is considered a global market leader in chilled convenient packaged herbs,exporting to 15 countries, with the US being its largest market.Its 53 million in annual sales has been growing at a double-digit rate.*
Botanical employs about 200 people at its Queensland factory.Australia and North America account for more than 90% of Garden Gourmet sales.*
McCormick already has a branded herb portfolio;but it doesn't contain chilled convenient products.The firm intends to expand Gourmet Garden's global distribution of lightly dried basil;chili pepper;chives;cilantro;ginger and so on.It also plans to increase brand investment to grow Garden Gourmet sales.McCormick is capitalising on an increasing demand for new seasonings as more and more health-minded cooks look to try international dishes.The old Baltimore County,Maryland business gains entrance into the produce aisle with the purchase of the Gourmet Garden brand in the bargain.*
McCormick & Co Inc (MCK)
No comments:
Post a Comment