Tuesday, November 29, 2016

McCormick to acquire Italian flavor maker for $127 million

McCormick & Co. Inc. is acquiring an Italian flavor manufacturer for $127 million, the spice maker’s latest effort to increase its presence in Europe. Enrico Giotti SpA, a privately held company headquartered in Florence, Italy, produces beverage, sweet, savory and dairy flavors. The company has annual sales of about $56 million. Sparks-based McCormick expects the deal to close the deal in December with a transaction multiple of approximately 12 times earnings before interest, tax, depreciation…



from http://www.bizjournals.com/baltimore/news/2016/11/29/mccormick-to-acquire-italian-flavor-maker-for-127.html?ana=RSS%26s=article_search
via http://baltimorecheckbook.tumblr.com/post/153820951807

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