Del Monte Foods, the US food company, has announced the acquisition of cooking aids firm Kitchen Basics from McCormick.
Kitchen Basics was founded in 1996 and has an extensive portfolio of ready-to-use stocks and broths, and is currently the market leader in the US.
Greg Longstreet, president and CEO of Del Monte Foods, said: “Del Monte Foods has gone through a positive transformation over the past five years, and we have become a leading innovative CPG growth company. As we plan for the next decade of growth, we’re committed to strengthening our branded product portfolio to meet consumers’ changing needs. Building on our regional College Inn brand, the acquisition of Kitchen Basics will provide synergies across our business to scale our broth and stock portfolio across North America”.
Specific terms of the deal were not disclosed.
Source: Del Monte Foods (via PR NewsWire)