McCormick & Co. Buying Kamis for $291M

citizen |

SPARKS, Maryland (AP) - Spice and seasonings maker McCormick & Co. is buying Polish spice company Kamis SA for about 830 million zloty ($291 million).

Privately held Kamis distributes in Russia and other parts of Central and Eastern Europe. McCormick said last Tuesday that that deal will expand its reach in Western Europe into Poland as well as other markets in Central and Eastern Europe.

Aside from spices, Kamis makes seasonings, mustards, vinegars, sauces and marinades.

The transaction is subject to regulatory approvals, including anti-monopoly clearance in Poland, Russia and Ukraine.

McCormick said it will pay for the transaction with available cash and debt.

Earlier this month McCormick said it was forming a joint venture with Kohinoor Foods Ltd. of India to market and sell its basmati rice and food products in that country.

McCormick is based in Sparks, Maryland.

Associated Press text, photo and/or graphic material shall not be published, broadcast, rewritten for broadcast or publication or redistributed directly or indirectly in any medium. Neither these AP Materials nor any portion thereof may be stored in a computer except for personal and non-commercial use. The AP will not be held liable for any delays, inaccuracies, errors or omissions therefrom or in the transmission or delivery of all or any part thereof or for any damages arising from any of the foregoing.

Latest Stories

Latest Podcast

STARR Community Services International, Inc.