Consumer Stock Takeovers: Deals and Targets
McCormick (MKC) said Sept. 8 it completed its $286 million buyout of spice maker Kamis S.A., a Poland-based maker of spices and seasonings with distribution subsidiaries throughout Eastern Europe, including Russia, Romania and Ukraine.
McCormick said the acquisition strengthened its footprint in Europe, along with a recent joint venture in Turkey.
The move was part of McCormick's broader strategy of expansion into emerging markets, a trend many other food makers also have taken up.
The Kamis acquisition is expected to add around $103 million in annual revenue to McCormick's operations, and 6 cents per share to 2012 earnings.
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