USA: McCormick acquires Botanical Food Group
McCormick, the US spice and seasonings gient, has announced the acquisition of Australia-based Botanical Food Group, which manufactures and sells the Gourmet Garden brand of packaged herbs, in a deal worth $114 million.
Gourmet Garden sell a variety of fresh and lightly dried herbs in Australia, also exporting its product range to 15 countries with the US being its biggest international market.
McCormick said Gourmet Garden's “closer to fresh” products complemented its own existing branded herb portfolio with the addition of chilled convenient herbs located in the perimeter of the grocery store. McCormick added that it planned to drive sales of the Gourmet Garden brand by expanding global distribution and building awareness with increased brand investment.
McCormick President and CEO Lawerance E. Kurzius spoke of the acquisition by saying: “Gourmet Garden is a global market leader in chilled convenient packaged herbs. […] We anticipate strong growth for these products, particularly in the US and key international markets where consumers appreciate the value and accessibility of cooking with a more convenient flavouring alternative”.
Source: McCormick (via PR Newswire)