McCormick launches $500 million stock offering

McCormick & Co. Inc. launched a public offering to raise $500 million it will use to pay for a portion of its recent acquisition of Reckitt Benckiser Group Plc’s food division.

The Hunt Valley-based spice maker announced the $4.2 billion acquisition last month. The deal will add Frank’s RedHot sauce and French’s mustard to McCormick’s portfolio of spices, seasonings, flavors and sauces.

McCormick (NYSE: MKC) executives said at the time financing for the deal would include $3.7 billion of new debt…

from https://www.bizjournals.com/baltimore/news/2017/08/07/mccormick-launches-500-million-offering-of-stock.html?ana=RSS%26s=article_search
from http://baltimorecheckbook.tumblr.com/post/163927393627

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Author: Baltimore Checkbook

Best in consumer news and deals in Baltimore, MD.

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