Tuesday, June 14, 2016

McCormick & Company, Inc

The company was started by Willoughby McCormick in 1889 in a one-room basement and is now a close-to $4 billion global company. He began selling herbs and spices extract on the street of Baltimore.

He bought a spice company in 1896 and began importing and exporting spices, herbs, seasonings and other products.

In the aftermath of the crash of 1929, the company’s fortunes took a turn for the worse. Profits turned to losses. In 1932 at the height of the Depression, Willoughby died. The board of McCormick & Company elected Charlie McCormick as president.

In the 1990s, McCormick redefined itself from an herb and spice maker to a ‘flavoring company’ and addressed the needs of time-pressed working families by introducing seasoning  mixes, trying to capture the market for gourmet cooking and marketed more aggressively to industrial customers.

On June 8, 2006, McCormick & Company announced that it had signed a definitive agreement to purchase the assets of Epicurean International for $97 million in cash.

In 2008 the company acquired Lawry’s brand of seasonings and marinades.
McCormick & Company, Inc

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