McCormick acquires Italian flavorings company for $127 million
McCormick & Co. will acquire Italian flavorings company Enrico Giotti SpA for $127 million. The company plans to close the sale in December.
The Sparks-based spice and flavorings maker said Tuesday it will acquire 100 percent of the shares of Enrico Giotti SpA, based in Florence. Giotti is known for making beverage, sweet, savory and dairy flavors along with an expertise in flavoring nutrition and health products.
Adding Giotti to McCormick & Co. will help the company serve its overseas markets, in particular Europe, Africa and the Middle East. The acquisition will also help McCormick expand offerings to packaged food companies and multi-national restaurants.
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