McCormick & Co. (Sparks, Maryland) has agreed to purchase 100% of the shares of Kamis S.A. (Wolka Kosowska, Poland), a manufacturer of spices, seasonings, mustards and other flavor products, for about $291 million. The acquired company has distribution reach in Russia and Central and Eastern Europe and has annual sales of about $105 million. The deal is expected to close in September.
Of the move, Alan Wilson, chairman, president and CEO of McCormick said, "This acquisition is an excellent opportunity for McCormick to expand its portfolio of leading brands in Europe. Kamis is a brand leader in Poland where seasonings, mustard and other flavor products are in high demand. More than a third of consumers in Poland purchase seasonings at least every two weeks. Across its entire portfolio, Kamis is growing sales at a mid-single digit rate. The management and employees of Kamis have built a strong business and we look forward to working with them to develop and launch new products in other categories, accelerate penetration of other Central and Eastern European markets and expand in the food service channel."
Malcolm Swift, president McCormick Europe, Middle East and Africa added, "This acquisition complements McCormick's strong brands in the UK, France and other parts of Western Europe, as well as its recently announced joint venture in Turkey. The agreement to acquire Kamis is in line with McCormick's growth strategy in Europe, Middle East and Africa. In addition, there is a strong fit between McCormick, a recognized flavor leader in the region, and Kamis which has a solid reputation for high quality products and professionalism in Central and Eastern Europe."