SPARKS, MD. – McCormick & Co. has entered into an agreement to acquire One World Foods, Austin, Texas, marketer of the Stubb’s barbeque sauce brand, for approximately $100 million.
“Based in Texas, Stubb's is an authentic, craft brand with an enthusiastic and loyal consumer base,” said Alan Wilson, chairman and chief executive officer of McCormick. “Through marketing and innovation, we intend to build this base, increase household penetration and expand retail distribution in the U.S. and internationally.
“The Stubb's products round out the range of grilling products currently marketed by McCormick under the Grill Mates, Lawry's and McCormick brands. We look forward to working with the Stubb's employees to drive increased sales and profit for this business.”
After opening his first Stubb's Legendary Bar-B-Q restaurant in 1968, C.B. Stubblefield began selling his sauces to retailers in 1992. The product line is known for their bold flavors.
McCormick said it intends to maintain the Stubb’s headquarters in Texas. Annual sales of the business are projected to reach $30 million in 2015, according to McCormick. The transaction is expected to be completed by the end of July.