WASHINGTON (dpa-AFX) - McCormick & Company, Inc. (MKC) announced that it has agreed to acquire 100% of the shares of Enrico Giotti SpA, Italian flavor manufacturer located in Florence, Italy, for about 120 million euros or $127 million in cash.
Founded in 1928, Giotti is a leading manufacturer of natural flavors, aromatic herbal extracts, and concentrated juices. The company is privately owned and headquartered in Florence, Italy. Annual sales of the business are approximately 53 million Euro or $56 million. McCormick expects to complete this transaction in December 2016.
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