SPARKS, Maryland (AP) — Spice and seasonings maker McCormick & Co. has completed its $286 million buyout of Polish spice company Kamis S.A.
McCormick said Thursday that it hopes to build the Kamis brand and continue to run its plant near Warsaw.
The company anticipates profits from privately held Kamis to add about 6 percent per share to its 2012 earnings.
McCormick, which announced the acquisition in June, paid for the deal with available cash and debt.
Kamis distributes in Russia and other parts of Central and Eastern Europe. McCormick said at the time the transaction was announced that that deal would expand its reach in Western Europe into Poland as well as other markets in Central and Eastern Europe.
Aside from spices, Kamis makes seasonings, mustards, vinegars, sauces and marinades.
McCormick, based in Sparks, Maryland, expects acquisition-related costs to lower its fourth-quarter earnings by about 2 cents per share.
McCormick stock fell 27 cents to $47.42 in morning trading Thursday.
