McCormick & Company Acquires FONA International

December 30, 2020

McCormick & Company, Inc. agreed to acquire 100% of FONA International, LLC for $710 million in cash. FONA is a privately held manufacturer of clean and natural flavors headquartered in Illinois with approximately $114 million in annual sales and ~220 employees; McCormick said the deal expands its flavor solutions portfolio, technology capabilities and clean/natural offerings and is expected to be accretive to gross margin.

Buyers
McCormick & Company, Incorporated
Targets
FONA International, LLC
Sellers
Slawek family
Industry
Food & Beverage
Location
Illinois, United States
Transaction Type
Buyout

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