SPARKS, Md. — McCormick on Friday announced that it had completed its acquisition of Reckitt Benckiser’s food division, RB Foods. Among the brands that now come into McCormick’s portfolio are Frank’s Red Hot, French’s and Cattlemen’s, all of which McCormick said were a strategic git within its global branded flavor offerings.
"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," McCormick chairman, president and CEO Lawrence Kurzius said. “McCormick is the perfect home for brands like Frank's RedHot and French's as their simple, clean ingredients make them liquid spice.”
The company announced the planned acquisition in July, financing the roughly $4.2 billion deal with a combination of new debt that included senior unsecured notes and pre-payable term loans, as well as equity.
“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,’” Kurzius said. “The talented employees of RB Foods have built a great business, and we look forward to working with them to achieve continued success.”