McCormick & Co. Inc. said Monday it has acquired Brand Aromatics, a privately held New Jersey-based maker of marinades and broths, for about $63 million in cash.
McCormick's latest acquisition, its second this year, will allow the Hunt Valley-based spice maker to expand the part of the business that sells spices and flavorings to food manufacturers and restaurants.
Last month, McCormick acquired Italian spice maker Drogheria & Alimentari for $97 million.
Brand Aromatics, which had $28 million in sales last year, makes flavors, marinades, broth and stock concentrate for packaged food companies. The company has 40 employees, a headquarters, research facility and plant in Lakewood, N.J.
Through the acquisition, McCormick expects to offer an expanded assortment of flavorings for stocks, marinades and other products, said Alan Wilson, McCormick's CEO and chairman.
The company said it expects no impact on its earnings this year because of costs of financing the deal.