McCormick Acquires Italian Seasonings for $97M

2/25/2015
McCormick & Company, Incorporated, a leader in flavor, has signed an agreement to purchase 100% of the shares of Drogheria & Alimentari (D&A), a privately held company based in Italy for $97 million. D&A is a leader in spices and seasonings in Italy with annual sales of approximately $57 million (80% in Italy and 20% exported to 60 other countries). The addition of the D&A business extends McCormick's presence in Europe with a strong foothold in Italy.
 
"We are pleased to expand our portfolio of leading brands around the world with the addition of Drogheria & Alimentari.  As a supplier of both brand and private label products, D&A has approximately one third of the spice and seasoning category in Italy and exports its products to 60 other countries,” says Alan Wilson, Chairman & CEO of McCormick. “We anticipate strong growth for these premium products, particularly in the U.S. and key international markets where consumers are seeking unique and authentic ethnic flavors. The owners and employees of D&A have built a great business and we look forward to working with them to achieve continued success." 
 
"This acquisition complements McCormick's strong brands across EMEA and expands McCormick's current spice and seasoning leadership in Europe with a sizable footprint in Italy,” adds Malcolm Swift, President McCormick Europe, Middle East and Africa (EMEA). “In addition, there is a strong fit between McCormick, a recognized flavor leader in the region, and Drogheria & Alimentari, which has a reputation for high quality products and professionalism."
 
Founded in 1880, D&A has approximately 120 employees and a modern manufacturing facility located in Florence, Italy. McCormick plans to work with the current owners of the business and to grow sales of D&A products at a mid-single digit rate. 
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