|SPARKS, Md., Nov. 29, 2016 /PRNewswire/ — McCormick & Company, Incorporated (NYSE: MKC), a global leader in flavor, today announced that it has agreed to acquire 100% of the shares of Enrico Giotti SpA (Giotti), a leading Italian flavor manufacturer located in Florence, Italy.
Lawrence E. Kurzius, President and Chief Executive Officer, stated, “The acquisition of Giotti is another important step in the execution of our growth strategy. McCormick is a leading flavor supplier to packaged food companies and multi-national restaurants, and this acquisition expands the breadth of our value-added flavor solutions in Europe with strong and innovative R&D capabilities. With this acquisition, we add greater scale to our already substantial industrial segment business in the Europe, Middle East and Africa region.”
Malcolm Swift, President, Global Industrial and International Business added, “We anticipate strong growth driven by Giotti’s expertise in the high growth health and nutrition segment. The owners and employees of Giotti share with McCormick a great history and commitment to innovation and quality, and we look forward to working with them to achieve continued success.”