Florence, Italy – 05-29-2015
CP Advisors advised McCormick on the acquisition of Drogheria e Alimentari for Eur. 85 million
McCormick & Co., Inc., a global leader in flavor, has completed the purchase of 100% of the shares of Drogheria e Alimentari S.p.A. (“D&A”), the leading Italian herbs and spices and seasonings company. The transaction was signed on Feb. 20th 2015.
McCormick (NYSE: MKC) is a global leader in flavor with over $4.2 billion in sales and a market capitalization of approximately $9 billion. The Company manufacturers and markets spices, seasonings, mixes, condiments and other flavorful products globally under its well known brands.
D&A is the leading Italian herbs and spices player with sales in excess of Eur. 50 million. 80% of its sales are domestic, while the remaining 20% are generated in over 60 countries. D&A operates through a state of the art production facility and markets its products under its well known brands, as well as in the private label an industrial businesses.
CP Advisors acted as the exclusive financial advisor to McCormick on the acquisition of D&A for Eur. 85 million ($97 million), of which Eur. 50 million at closing and the remaining Eur. 35 million in 2018 based on the performance of the businesses.