McCormick completes acquisition of Kamis
Sept. 8, 2011
SPARKS, MD. — McCormick & Co., Inc. has completed its $286 million acquisition of Kamis S.A., a manufacturer of spices, seasonings, mustards and other flavor products in Poland. Kamis also has distribution in Russia, Romania and Ukraine.
With annual sales of about $103 million McCormick said it expects profits from this business to add about 6c to earnings per share in 2012. Sales for Kamis have been increasing at mid-single digit rates, and McCormick said it intends to add to growth through new product introductions, marketing programs and penetration of other markets in Central and Eastern Europe.
McCormick said it will invest in the growth of Kamis and will continue to operate the business from the facility located near Warsaw.