McCormick's SEC filings show condiment maker it's buying is growing, profitable

McCormick & Co. Inc. is betting on itself with the $4.2 billion purchase of a business that includes French's mustard and Frank's RedHot sauce. The Hunt Valley spice maker's stock price plunged after it announced a deal to acquire the food division of British consumer goods giant Reckitt Benckiser Group Plc. because of worries that it overpaid. McCormick's stock price fell more than 5 percent on July 19, the first day of trading after the deal was announced. It has since recovered and was up almost 3.5 percent in trading Wednesday to $96.25 per share. The deal is expected to close by Nov. 30. (Balt. Bus. Journal)

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