PhotoLONDON — McCormick & Company will account for more space in American cupboards after agreeing to buy French’s mustard and Frank’s Red Hot sauce in a deal worth $4.2 billion. The business includes the French’s, Frank’s Red Hot and Cattlemen’s brands. The sale, announced late Tuesday, came after Reckitt Benckiser announced a strategic review in April of its food business. The acquisition of Frank’s Red Hot, French’s mustard and “other beloved products enables McCormick to become a one-stop shop for condiment, spice and seasoning needs, providing our customers and consumers with an even more diverse and complete flavor product offering,” Lawrence E. Kurzius, the McCormick chairman, president and chief executive, said in a news release. The deal is subject to regulatory approval.

Source: New York Times July 19, 2017 08:56 UTC