McCormick & Co. (MKC) Raises Quarterly Dividend 9.7% to $0.68; 1.5% Yield
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McCormick & Co. (MKC) Acquires Parent Company of Cholula Hot Sauce for $800M
November 24, 2020 6:03 AM ESTMcCormick & Company Inc. (NYSE: MKC) today announced that it has signed a definitive agreement to acquire the parent company of Cholula Hot Sauce®, a premium hot sauce brand that delivers authentic Mexican flavor, from L Catterton, for $800 million in cash.
"The acquisition of Cholula accelerates McCormick's growth opportunities within our condiment platform and broadens our portfolio in the hot sauce category with the addition of the Cholula brand," said Lawrence E. Kurzius, Chairman, President and Chief Executive Officer. "Hot sauce is an attractive, high-growth category and, as an iconic premium brand, Cholula is... More
