McCormick finalises the acquisition of Kamis 5 September 2011
After more than two months from signing the transaction documentation related to the acquisition of shares in Kamis S.A., unquestionable leader in the Polish spices and seasonings market by McCormick & Company, Incorporated, global leader in spices and flavor products, the parties managed to successfully close the transaction.
The transaction was finalised after obtaining consents of the Polish, Ukrainian and Russian competition authorities. As a result of the transaction, McCormick & Company acquired 100% stake at Kamis for the total consideration of PLN 830m (USD 279m). The agreement does not cover activities related to the production of Irving branded tea, which will be continued by the present owners within a new company.
FIDEA acted as exclusive financial adviser to the owners of Kamis in the transaction. The sale of Kamis is among the largests transactions in the Polish food market.