US-based spice and seasonings group McCormick & Co. has snapped up the Lawry’s seasonings business from Unilever for US$605m.
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The deal, which remains subject to regulatory approval, includes the range of seasonings blends and wet marinades under the Lawry’s and Adolph’s brands.
McCormick chairman and CEO Robert Lawless said he was “extremely pleased” at the acquisition. “The acquisition of attractive consumer brands to complement our existing portfolio of flavours for food is one of our key objectives.”
Under the deal, Unilever will retain its manufacturing facility in Independence, Missouri, at which the company produces other of its brands.
Lawry’s and Adolph’s generated sales of around $150m for Unilever last year. However, the disposal marks the latest step from the Anglo-Dutch conglomerate to sell “non-strategic brands”.
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By GlobalDataEarlier this month, Unilever sold cheese brand Boursin to French cheese maker Le Groupe Bel for EUR400m (US$588.4m).
“This transaction takes us a step forward as we continue to reshape our portfolio in North America by sharpening our focus on building strong brands with global reach,” said Unilever Americas president Michael Polk.
