McCormick buys Reckitt Benckiser food unit for US$4.2b
Add BT as a preferred sourceNew York
MCCORMICK & Co has agreed to acquire Reckitt Benckiser Group Plc's food business for US$4.2 billion, a deal that would add French's mustard and Frank's RedHot sauce to the spice giant's lineup.
The transaction is expected to be completed in the third or fourth quarter of McCormick's fiscal 2017, pending regulatory approvals, according to a statement on Tuesday. McCormick plans to fund the deal with a combination of equity and debt, and said it has obtained committed bridge financing.
TRENDING NOW
On the board but frozen out: The Taib family feud tearing Sarawak construction giant apart
Are Keppel’s dividends truly unsustainable – or just misunderstood?
UOB aims to double wealth income to at least S$2.5 billion by 2030; Q1 profit slips 4%
Sony, Singapore’s GIC to pay almost US$4 billion for Bieber, Neil Young catalogue
