Australia’s largest food group Burns, Philp & Co has said it has put its North American herbs and spices unit, Tones, up for sale.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Discover B2B Marketing That Performs

Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.

Find out more


The company said that it had received expressions of interest from parties interested in the acquisition of Tones, and had therefore appointed Credit Suisse First Boston to advance the sale of the division. The company added that it expects to complete a sale of the unit by June 2004.


The company said that under its financing arrangements, 25% of the net proceeds of the sale would go towards reducing the group’s senior debt. Burns Philp had total debt of A$2.6bn (US$1.95bn) at the end of 2003 due to its recent acquisition of Australian food maker Goodman Fielder, reported Reuters.


Tones is the second-largest manufacturer of herbs and spices in North America after McCormick & Co.

GlobalData Strategic Intelligence

US Tariffs are shifting - will you react or anticipate?

Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.

By GlobalData

Just Food Excellence Awards - The Benefits of Entering

Gain the recognition you deserve! The Just Food Excellence Awards celebrate innovation, leadership, and impact. By entering, you showcase your achievements, elevate your industry profile, and position yourself among top leaders driving food industry advancements. Don’t miss your chance to stand out—submit your entry today!

Nominate Now