McCormick Acquires FONA International, LLC
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Credit Suisse Praises McCormick's (MKC) FONA Acquisition
December 31, 2020 6:55 AM ESTCredit Suisse analyst Robert Moskow believes McCormick & Company (NYSE: MKC) can emerge as a post-pandemic winner after the firm move to complete another takeover.
The Baltimore-based company announced yesterday it agreed to buy 100% of the shares of privately-owned FONA International for $710 million in cash. FONA manufactures clean and natural flavors providing solutions for a diverse customer base.
The acquisition of FONA reinforces McCormick's global growth strategy as FONA expands the breadth of our flavor solutions segment into attractive categories, as well as extends our technology platform and strengthens our capabilities. This acquisition also... More
