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McCormick acquires Italian flavorings company for $127 million

McCormick acquires Italian flavorings company for $127 million

McCormick & Co.'s acquisition spree continued Tuesday as the Sparks-based company announced plans to acquire the Italian flavorings firm Enrico Giotti SpA of Florence for $127 million.

Giotti makes flavorings for food and drink makers as well as juices and extracts, generating about $56 million in annual sales.

The acquisition, expected to close in December, is McCormick's fifth in the past two years. It's also the company's second in more than a decade on the industrial side of its business that sells spices and flavorings to food manufacturers and restaurants.

"The acquisition of Giotti is another important step in the execution of our growth strategy,"...

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