McCormick & Company, a global spices and condiment business, has bought Australian firm Botanical Food Company, manufacturers of Gourmet Garden packages herbs.
McCormick acquired Botanical for a cash payment of about $150 million. Gourmet Garden has annual sales of around $70 million, which are growing in double digits.
“As a global market leader in chilled convenient packaged herbs, Gourmet Garden exports its products to 15 countries, with the largest market being the US,” McCormick & Company President and CEO Lawrence E Kurzius said. “The owners and employees of Gourmet Garden have built a great business and we look forward to working with them to achieve continued success.”
Gourmet Garden was founded in Australia in 1999 and has around 200 employees and a modern manufacturing facility in Queensland. McCormick expects to work with the current management of Gourmet Garden to continue to drive double-digit sales growth through expanded distribution, increased brand marketing and greater household penetration. Currently, more than 90 per cent of Gourmet Garden sales are to customers in North America and Australia.
