McCormick to buy Kamis in 208m euro deal
The global flavour company said that it has signed an agreement to purchase 100 per cent of the shares of Kamis S.A, a privately held company based in Poland with distribution into Russia and other parts of Central and Eastern Europe. The addition will extend McCormick’s presence in Western Europe into Poland and other markets in Central and Eastern Europe.
“An important part of McCormick’s growth strategy is to expand our presence in emerging markets where consumers have an increasing demand for branded packaged foods and an increased interest in new flavours,” said Alan Wilson, Chairman, President and CEO of McCormick.
“The agreement to acquire Kamis is in line with McCormick’s growth strategy in Europe, Middle East and Africa. In addition, there is a strong fit between McCormick, a recognized flavor leader in the region, and Kamis which has a solid reputation for high quality products and professionalism in Central and Eastern Europe,” added Malcolm Swift, President McCormick Europe, Middle East and Africa.
Kamis, which sells spices, seasonings, mustard and other flavoured products, had annual sales of around 75 million euros (300 million Polish zloty).
The completion of the agreement is expected to occur by September 2011 subject to regulatory approval.
“This acquisition is an excellent opportunity for McCormick to expand its portfolio of leading brands in Europe. Kamis is a brand leader in Poland where seasonings, mustard and other flavor products are in high demand,” said Wilson..
