The company maintained its 2011 profit outlook for earnings between $2.74 and $2.79 a share. McCormick CEO Alan D. Wilson said the company's key growth strategy is to expand through acquisitions. The maker of spices, herbs and seasonings recently completed the acquisition of Polish spice maker Kamis, as well as a joint venture to market Kohinoor, a brand of basmati rice and other food products, in India.
In the U.S., McCormick acquired Kitchen Basics, a maker of liquid stocks used for cooking, in a $38 million deal. McCormick shares were unchanged in premarket trading Wednesday after closing higher at $47.69 in Tuesday's session. -- Written by Miriam Marcus Reimer in New York. >To contact the writer of this article, click here: Miriam Reimer. >To follow the writer on Twitter, go to @miriamsmarket.
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