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.
- Targets
- FONA International, LLC
- Sellers
- Slawek family
- Industry
- Food & Beverage
- Location
- Illinois, United States
- Transaction Type
- Buyout
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