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McCormick & Company - Wikipedia, the free encyclopedia

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From Wikipedia, the free encyclopedia

McCormick & Company is a Fortune 1000


company that manufactures spices, herbs, and
flavorings for retail, commercial, and industrial
markets. The company began in 1889 in Baltimore,
Maryland, United States. One hundred years later,
McCormick moved from downtown Baltimore to the
suburb of Hunt Valley, Maryland. McCormick has
approximately 8,000 employees. The company is
headquartered in Sparks, Maryland.
Its brands include McCormick; Zatarain's, Lawry's,
Old Bay Seasoning, Mojave Foods, Thai Kitchen
and Simply Asia (United States); Ducros, Drogheria
& Alimentari, Kamis, Margao, Silvo, and Vahine
(Europe); Club House spices and Billy Bee Honey
(Canada); Schwartz (United Kingdom); Aeroplane
Jelly and Keen's Mustard (McCormick Foods
Australia).

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History
Business units
References
External links

Willoughby M. McCormick started the business in


Baltimore at age 25 in 1889. From one room and a
cellar, the initial products were sold door-to-door and
included root beer, flavoring extracts, fruit syrups
and juices. Seven years later, McCormick bought the
F.G. Emmett Spice Company and entered the spice
industry.[4] In 1903, Willoughby and his brother
Roberdeau incorporated the company in Maine;[5] it
was reincorporated in Maryland in 1915. Most of the
company's assets and records were destroyed in the
Great Baltimore Fire of 1904, though a new
five-story building was erected on the same site
within 10 months. Willoughby's nephew Charles P.
McCormick began working for the company in the
summer of 1912 and was elected to the Board of
Directors in 1925.[4]

McCormick & Company

Type

Public

Traded as

Common NYSE: MKC.V


(https://www.nyse.com/quote
/XNYS:MKC.V)
Common non-voting NYSE: MKC
(https://www.nyse.com/quote
/XNYS:MKC)
S&P 500 Component (MKC)

Industry

Processed & Packaged goods

Founded

1889 in Baltimore, Maryland

Headquarters Sparks, Maryland, United States


Key people

Lawrence E. Kurzius,[1] President &


CEO

Products

Spices, herbs, flavorings

Revenue

US$ 4,123.4 million (2013)[2]


US$ 4,014.2 million (2012)[2]

Operating
income

US$ 550.5 million (2013)[2]


US$ 578.3 million (2012)[2]

Net income

US$ 389.0 million (2013)[2]


US$ 407.8 million (2012)[2]

Total assets

US$ 4,449.7 million (2013)[3]


US$ 4,165.4 million (2012)[2]

Total equity

US$ 1,947.7 million (2013)[3]


US$ 1,700.2 million (2012)[2]

Number of
employees

8,000 (approx)

Slogan

McCormick Brings Passion to Flavor

Website

www.mccormickcorporation.com
(http://www.mccormickcorporation.com)

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Willoughby died on November 4, 1932, and Charles was elected


President and Chairman of the Board at age 36. The big "Mc"
became a trademark for nearly all U.S. products in 1941.
McCormick acquired A. Schilling & Company of San Francisco in
1947; established in 1881, it was a coffee, spice and extract house
that enabled McCormick to begin coast-to-coast distribution in the
U.S.[6] McCormick continued to use the Schilling name for its
Western division until the 1990s. The last product containers marked
Schilling were produced in 2002.
Ben-Hur Products, a similar California-based company, was acquired
in 1953, and Canada's largest spice firm, Gorman Eckert & Co. Ltd.
of London, Ontario, was acquired in 1959. Gilroy Foods of Gilroy,
California became a wholly owned subsidiary in 1961. Other
acquisitions included Baker Extract Co. in 1962, Cake Mate cake
decorating in 1967, Childers Foods (later part of Golden West
Foods) in 1968, and Tubed Products, an Easthampton, Massachusetts
contract food packer and producer of plastic tubes, also in 1968.
Charles P. McCormick retired in 1969 and was named Chairman
Emeritus.[7] He died of a heart attack in 1970.
McCormick acquired Golden West Foods, a frozen foods
manufacturer and distributor in Gilroy, California, in 1973 and
entered that field under the Schilling brand label. The McCormick
(east) and Schilling (west) retail units were consolidated to form a
Grocery Products Division in 1975 with its headquarters in
Baltimore. Additional acquisitions included All Portions in 1975, TV
Time Foods of Chicago in 1976, Astro Foods of San Rafael,
California in 1977, and Han-Dee Pak of Atlanta in 1979.

McCormick & Co. headquarters in


Sparks

McCormick & Company products on


display at retail

In October 1979, Swiss pharmaceutical firm, Sandoz, Ltd., announced its intention of purchasing the
company.[8] McCormick sued Sandoz in May 1980 and by September Sandoz agreed to relinquish its efforts
to purchase McCormick and sold the shares that it acquired in its attempt to purchase the company.
Setco, a plastic bottles producer in Culver City, California, and Stange, a specialty flavorings and colorings
company of Chicago, were purchased as subsidiaries in 1981. The company acquired Paterson Jenks, a
publicly held United Kingdom corporation, in 1984, and Schwartz, the largest UK spice line. Other
acquisitions included Armanino Farms, the world's largest grower and processor of chives, from Armanino
& Son, Inc., of San Francisco in 1986; and three California companies in 1987: Gentry Foods of Gilroy,
Parsley Patch of Windsor, and The Herb Farm of Encinitas. Charles P. McCormick was elected President
and Chief Executive Officer in 1987 and re-elected CEO and Chairman of the Board in 1988. The company
celebrated its centennial in 1989 with events primarily for employees and those responsible for its success,
and arranged for the musical group Up with People to give a series of performances across the U.S. for
schools, churches, hospitals and similar organizations.[9]
McCormick was sold an interest in the Old Bay brand in 1990, and acquired Mojave Foods Corporation of
Los Angeles in 1991, and the consumer products business of Golden Dipt Company in 1993. McCormick's
1994 acquisitions included Grupo Pesa of Mexico, Tuko Oy of Finland, Butto of Switzerland, and Minipack
of Southampton, United Kingdom. Chairman Emeritus Charles P. McCormick Jr. was re-elected chairman in
1994. The company sold Golden West Foods in 1995 and Minipack of Southampton in 1996. Also sold in
1996 were Gilroy Foods and Gilroy Energy, as well as Giza National Dehydration of Cairo, Egypt.
McCormick Canada acquired the French's dry seasoning line in 1997, and McCormick stock began selling
on the New York Stock Exchange in 1999.[10]

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The company acquired Ducros of France in 2000, later renamed McCormick France. In 2003, McCormick
was added to the Standard & Poor's 500 Index; acquired UniqSauces of the UK and Zatarain's of Louisiana;
and sold its packaging businesses, Setco and Tubed Products, as well as its Jenks brokerage business assets.
The company acquired C.M. van Sillevoldt B.V. of the Netherlands in 2004 and Epicurean International
(renamed Simply Asia Foods) in 2006, with its Thai Kitchen and Simply Asia brands. In 2007, the company
started a new advertising campaign to encourage people to dispose of older packages of spices, by pointing
out that any of their packages that list their address as "Baltimore, MD 21202" are over 15 years old.[11]
[12][13] In 2008, McCormick acquired Billy Bee Honey Products of Canada, and the Lawry's brand of
seasonings and marinades (the biggest acquisition in company history).[14] To gain FTC approval for the
purchase of Lawry's, McCormick agreed to sell its Season-All business to Morton Salt.[15][16]
In 2011, the company acquired Kitchen Basics, an Ohio-based brand of shelf-stable liquid stock, for $38
million.[17] During that year, it also acquired Kamis S.A., a privately held Polish company with leading
brands in spices, seasonings, mustards and other flavor products in Poland for $291 million.[18] It also
bought an 85% stake in Kohinoor Speciality Foods India for $115 million, a joint venture with India-based
Kohinoor Foods Ltd to market and sell basmati and food products in India. Kohinoor Foods is famous for its
eponymous brand of basmati and ready-to-eat foods.[19]
In mid-2013, the company completed its acquisition of Wuhan Asia-Pacific Condiments Co. Ltd. (WAPC), a
seasoning manufacturer in the central region of China with the Daqiao and ChuShiLe buillon products.[20]
In December 2015, McCormick & Co. Inc. announced that Lawrence E. Kurzius, head of global operations,
would become CEO effective February 2016. Kurzius was a leader at McCormick for 12 years before the
announcement and previously held positions at Uncle Ben's, Mars Inc., and the Quaker Oats Co.[21]
The company dropped its bid to acquire Premier Foods in April 2016 after determining that Premier's asking
price wouldn't benefit shareholders.[22]

US Consumer Products: The US Consumer Products Division is McCormick's oldest and largest
business. It manufactures and sells spices, herbs, extracts, proprietary seasoning blends, sauces, and
marinades.
Food Service: McCormick Food Service offers a full line of spices, seasonings and other food
products to broadline foodservice distributors and membership warehouse clubs.
Industrial Flavor Solutions: McCormick Flavors supplies natural and artificial flavors for industrial
formulation needs. Products are available in a variety of forms, including liquid, paste, and powder.
SupHerb Farms: SupHerb Farms has a selection of culinary herbs: fresh, frozen, and freeze-dried.
Zatarain's: Zatarain's is the leading New Orleans-style food brand marketed nationally in the U.S. The
Zatarain's brand includes rice and dinner mixes, products to prepare and season seafood, and many
other items.
Stubb's BBQ Sauces: Stubb's produces a variety of sauces, marinades, and rubs for meats.

1. http://www.mccormickcorporation.com/Our-Company/Leadership
2. "MCCORMICK & CO INC 2013 Annual Report Form (10-K)" (XBRL). United States Securities and Exchange
Commission. January 29, 2014.
3. "MCCORMICK & CO INC 2014 Q1 Quarterly Report Form (10-Q)" (XBRL). United States Securities and
Exchange Commission. March 26, 2014.

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4. "Company History 18891929". mccormickcorporation.com. McCormick and Company. Archived from the
original on April 29, 2009. Retrieved May 24, 2009.
5. "McCormick and Company, Inc. Company History". FundingUniverse. Retrieved May 24, 2009.
6. "Company History 19301949". mccormickcorporation.com. McCormick and Company. Retrieved May 24,
2009.
7. "Company History 19501969". mccormickcorporation.com. McCormick and Company. Retrieved May 24,
2009.
8. "Company History 19701979". mccormickcorporation.com. McCormick and Company. Retrieved May 24,
2009.
9. "Company History 19801989". mccormickcorporation.com. McCormick and Company. Retrieved May 24,
2009.
10. "Company History 19901999". mccormickcorporation.com. McCormick and Company. Retrieved May 24,
2009.
11. USA Weekend Magazine, 28 September 2007, Page 15
12. McCormick Toss Old Spices Seasonally (T.O.S.S.) (http://www.mccormick.com/content.cfm?ID=11985)
13. McCormick Fresh Flavor (http://www.spicecheckchallenge.com/)
14. "Company History 2000Present". mccormickcorporation.com. McCormick and Company. Archived from the
original on October 29, 2008. Retrieved May 24, 2009.
15. Segall, Eli (August 1, 2008). "McCormick seasons its business by closing Lawry's deal". bizjournals.com.
Baltimore Business Journal. Retrieved 2009-05-24.
16. "FTC Challenges McCormick's Acquisition of Unilever's Lawry's and Adolph's Brands". ftc.gov. Federal Trade
Commission. June 30, 2008. Retrieved 2009-05-24.
17. http://www.thestreet.com/story/11261451/1/mccormick-looks-to-acquisitions-for-growth.html
18. http://www.businesswire.com/news/home/20110628005879/en/McCormick-Enters-Agreement-Acquire-KamisBrand-Leader#.VRJg8vmUd8E
19. http://articles.economictimes.indiatimes.com/2011-06-03/news/29617163_1_kohinoor-foods-joint-ventureeastern-condiments
20. "McCormick signs agreement to buy Chinese company". Baltimore Sun. August 21, 2012. Retrieved March 11,
2016.
21. Sullivan, Joanna (December 1, 2015). "McCormick names new CEO". Bizjournals.com. Baltimore Business
Journal. Retrieved December 2, 2015.
22. Serafino, Phil. "Premier Foods Plunges After McCormick Abandons Buyout Talks". Bloomberg. Retrieved
13 April 2016.

McCormick & Company web site (http://www.mccormick.com)


McCormick Gourmet Collection web site (http://www.mccormickgourmet.com)
Schwartz UK Website (http://www.schwartz.co.uk/)
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Categories: Companies listed on the New York Stock Exchange Companies established in 1889
Companies based in Baltimore County, Maryland Flavor companies
Food production companies of the United States 1889 establishments in Maryland
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