McCormick completes acquisition of Reckitt Benckiser's food business

by Monica Watrous
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Reckitt Benckiser foods - Frank's Red Hot Sauce, French's mustard, Cattlemen's barbecue sauce
The $4.2 billion deal includes the Frank’s RedHot hot sauce, French’s mustard and Cattlemen’s barbecue sauce brands.
 

SPARKS, MD. — McCormick & Co. Inc. has completed its acquisition of the food business of the Reckitt Benckiser Group, Parsippany, N.J. The $4.2 billion deal was announced on July 18 and includes the Frank’s RedHot hot sauce, French’s mustard and Cattlemen’s barbecue sauce brands.

Lawrence Kurzius, McCormick
Lawrence Kurzius, chairman, president and c.e.o. of McCormick

“We are thrilled to acquire Frank’s RedHot, French’s and other iconic, market-leading brands, as we complete a transaction that has been at the top of our strategic list for over a decade and will generate significant shareholder value,” said Lawrence E. Kurzius, chairman, president and chief executive officer.  “McCormick is the perfect home for brands like Frank’s RedHot and French’s as their simple, clean ingredients make them liquid spice. The addition of these highly complementary brands will allow McCormick to continue to take advantage of the growing trend toward spicy, flavorful eating with natural, high-quality ingredients and advances our vision to ‘Bring the Joy of Flavor to Life.’  The talented employees of RB Foods have built a great business, and we look forward to working with them to achieve continued success.”

RB Foods is forecast to generate $581 million in revenue during 2017 with an adjusted EBITDA of $215 million, according to McCormick. The two businesses combined will have approximately $5 billion in sales. 
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