McCormick acquires Gourmet Garden
US-based food giant McCormick and Company, has acquired Australia’s Botanical Food Company which owns the Gourmet Garden herbs brand.
The acquisition occurred for AUD $150 million (US $114 million).
Gourmet Garden sells a variety of fresh and lightly dried herb products in Australian supermarkets. It also exports to 15 countries with the US its biggest international market.
More than 90 per cent of Gourmet Garden’s sales are to retail customers located in Australia and North America.
The formerly privately-owned company was established in 1999 and is based in Queensland where it still has a manufacturing facility.
Announcing the acquisition, McCormick and Company said Gourmet Garden’s annual sales are approximately AUD $70 million and are “growing at a double-digit rate”.
Lawerance E. Kurzius, President and Chief Executive Officer of McCormick and Company labelled Gourmet Garden as a global market leader in chilled convenient packaged herbs.
“We anticipate strong growth for these products, particularly in the US and key international markets where consumers appreciate the value and accessibility of cooking with a more convenient flavouring alternative,” Kurzius said.
About McCormick and Company
McCormick and Company is a public company which owns numerous food brands internationally. It specialises in the manufacturing, marketing and distribution of spices, seasoning mixes and condiments to retail outlets, food manufacturers and food service businesses. McCormick and Company also owns other food brands outside herbs and spices such as Billy Bee honey and Aeroplane Jelly.
The company employees approximately 8, 000 and is based in Baltimore, US.