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Reckitt Benckiser agrees to sell Food business to McCormick & Co

19 July 2017 07:19

Reckitt Benckiser entered an agreement to sell its Food business (RB Food or French's Food), including the French's, Frank's RedHot and Cattlemen's brands, to McCormick & Company for $4.2 billion on a cash-free, debt-free basis.

Today's announcement followed a comprehensive strategic review of French's Food. The valuation achieved reflects the quality of this highly profitable, growth business.

McCormick will retain the leading brand names of French's, Frank's RedHot and Cattlemen's. RB Food's focus on creating high quality products with simple ingredients makes it a strong match with McCormick.

Story provided by StockMarketWire.com

Related Company: RB.

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