Reckitt Benckiser has confirmed a deal to sell food manufacturers including Frank’s hot sauce to McCormick
US group McCormick fought off a mob of rival bidders to secure the British firm’s food business in a prompt that will propel it to the number one position in America’s condiments demand.
It comes a year after McCormick’s takeover battle to buy London-listed Mr Kipling’s lump firm Premier Foods failed.
McCormick said Reckitt’s provisions arm was a «perfect match» for the group and pledged to keep the well-known brand specifies, which also include Cattlemen’s BBQ Sauce.
The addition of Frank’s RedHot hot sauce, the clear consumer favourite in an pulling and high-growth category, French’s Mustard and the other products enables McCormick to grow a one-stop shop for condiment, spice and seasoning needs
The parcel out will create a combined group with annual sales of round 5 billion US dollars (£3.8 billion)
McCormick boss Lawrence Kurzius declared: «The addition of Frank’s RedHot hot sauce, the clear consumer favourite in an enticing and high-growth category, French’s Mustard and the other products enables McCormick to behoove a one-stop shop for condiment, spice and seasoning needs.»
Unchecked’s RedHot sauce is the number one brand in its market in the US and Canada
Frank’s RedHot crust is the number one brand in its market in the US and Canada, as is French’s Mustard.
Rakesh Kapoor, the chief head honcho of Reckitt, said the sale is in line with its aims to refocus the assort on its consumer health and cleaning products, which span a vast array of name brands from Durex to Dettol.
Rakesh Kapoor said the available is in line with its aims to refocus on health and cleaning products
He said: «This arrangement marks another step towards transforming Reckitt Benckiser into a extensive leader in consumer health and hygiene, ensuring we continue to deliver for shareholders and capitulate people innovative solutions for healthier lives and happier homes.»
Reckitt recently procure US baby formula maker Mead Johnson Nutrition in a mammoth £16.3 billion dole out to expand its consumer health arm.