McCormick completes Lawry's purchase
August 01, 2008
by FoodBusinessNews.net Staff
SPARKS, MD. — McCormick & Co., Inc. has completed its purchase of the assets of Lawry’s from Conopco, Inc., an indirect subsidiary of Unilever N.V.
The transaction was completed for $604 million in cash.
"Lawry’s has a strong heritage in delivering distinctive full flavors to a variety of food," said Alan D. Wilson, president and chief executive officer of McCormick. "This is a well-known brand among consumers and an excellent addition to our portfolio of leading brands. In particular, the wet marinade products will extend our broad range of flavor solutions into an attractive and growing category. We expect to drive the Lawry’s business by shifting focus to a dedicated growth strategy. This will include building brand awareness and trial with marketing programs, insight-based innovation behind new products and increased distribution of existing items. We anticipate a straight-forward integration of this business."
The Lawry’s business has a full line of seasoning blend products under the Lawry’s and Adolph’s brands.