McCormick Acquires Italian Flavor Company for $127 Million

<p style="text-align: left;" dir="ltr">McCormick &amp; Company Inc., has agreed to acquire Enrico Giotti SpA (Giotti), an Italian manufacturer of natural flavors, aromatic herbal extracts and concentrated juices, for US$127 million in cash. The acquisition, expected to close this month, expands the breadth of value-added products for McCormick&rsquo;s industrial segment including additional expertise in flavoring health and nutrition products. Giotti is known for its innovative beverage, sweet, savory and dairy flavor applications.</p>