MCCORMICK & CO INC acquired Enrico Giotti SpA (Giotti) for $123.8 million (net of cash acquired of $1.2 million), a transaction completed in December 2016, structured as all cash.
Enrico Giotti SpA (Giotti) operates in Flavor Solutions - Flavors (Europe), is based in Italy. Enrico Giotti SpA is a leading European flavor manufacturer located in Italy.
Its acquisition expanded the breadth of value-added products for McCormick's flavor solutions segment, including additional expertise in flavoring health and nutrition products.
Leading European flavor manufacturer strengthening McCormick's Flavor Solutions footprint in Europe. McCormick Flavor Solutions segment (EMEA)
On December 15, 2016, we purchased 100% of the shares of Enrico Giotti SpA (Giotti), a leading European flavor manufacturer located in Italy, for a purchase price of $123.8 million (net of cash acquired of $1.2 million). The acquisition was funded with cash and short-term borrowings.McCormick FY2018 10-K, business acquisitions note
Advisory firms were not disclosed for this transaction.