McCormick & Co. this week emerged as the buyer of Reckitt Benckiser's food assets, which include French's mustard and Frank's RedHot sauce. The brands look a good fit with McCormick's own basket of sauces and spices but the US group has paid what appears to be a rich multiple for the assets and its shares cooled on Wednesday when the deal was announced. Can McCormick extract value? Dean Best reports.