McCormick Enters Agreement to Acquire Drogheria & Alimentari, A Leader in Spices and Seasonings in Italy
|SPARKS, Md., Feb. 20, 2015 /PRNewswire/ — McCormick & Company, Incorporated (NYSE: MKC), a global leader in flavor, today announced that it has signed an agreement to purchase 100% of the shares of Drogheria & Alimentari (D&A), a privately held company based in Italy.
Alan Wilson, Chairman & CEO of McCormick stated, “We are pleased to expand our portfolio of leading brands around the world with the addition of Drogheria & Alimentari. As a supplier of both brand and private label products, D&A has approximately one third of the spice and seasoning category in Italy and exports its products to 60 other countries. We anticipate strong growth for these premium products, particularly in the U.S. and key international markets where consumers are seeking unique and authentic ethnic flavors. The owners and employees of D&A have built a great business and we look forward to working with them to achieve continued success.”
Malcolm Swift, President McCormick Europe, Middle East and Africa (EMEA) added, “This acquisition complements McCormick’s strong brands across EMEA and expands McCormick’s current spice and seasoning leadership in Europe with a sizable footprint in Italy. In addition, there is a strong fit between McCormick, a recognized flavor leader in the region, and Drogheria & Alimentari, which has a reputation for high quality products and professionalism.”