Spice giant McCormick buys FONA for $710M cash

GENEVA – McCormick & Company Inc. announced that it purchased 100% of the shares of FONA International LLC, acquiring the privately held company in Geneva for $710 million in cash, according to a news release.

Flavors of North America International is a 33-acre campus at 1900 Averill Road, Geneva. FONA is a leading manufacturer of natural flavors, providing solutions for a diverse customer base in the food, beverage and nutritional markets, the release stated.

Joe Slawek founded FONA in 1987.

“The Slawek family is very proud of the customers, the employee culture and the company we have built,” Slawek stated in the release. “We are excited to see the next generation of FONA flourish as part of McCormick. … Fueled by the power of McCormick, FONA’s success will be accelerated. FONA, in turn, will be a key driver in advancing McCormick’s global flavor leadership.”

McCormick Chairman, President and Chief Executive Officer Lawrence Kurzius stated in the release, that, “The acquisition of FONA reinforces McCormick’s global growth strategy as FONA expands the breadth of our flavor solutions segment into attractive categories, as well as extends our technology platform and strengthens our capabilities.”

FONA’s portfolio will provide McCormick customers “with an even more comprehensive product offering to meet the growing demand for clean and flavorful eating, drinking and nutrition experiences,” Kurzius stated in the release. “FONA will be the cornerstone for accelerating McCormick’s flavor platform in the Americas. With our passion for flavor, focus on insight-driven innovation and differentiated customer engagement, we look forward to continuing and building upon the legacy created by the Slawek family.”

FONA’s annual sales are approximately $114 million and are expected to grow while McCormick’s annual sales is over $5 billion, the release stated.

McCormick’s most popular brands – other than McCormick itself – include French’s, Frank’s RedHot, Stubb’s, OLD BAY, Lawry’s, Zatarain’s, Ducros, Vahiné, Cholula, Schwartz, Kamis, Kohinoor, DaQiao, Club House, Aeroplane and Gourmet Garden.

As FONA is a leading independent manufacturer of flavors, with a focus on nutritional and natural products, it is a well-recognized brand that McCormick plans to retain, the release stated.

McCormick was founded in 1889 and is based in Hunt Valley, Maryland .