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McCormick's New Flavors to Make Summer Recipes Tastier

McCormick & Company, Inc. MKC has introduced new products to make spring and summer meals more delicious. The 16 new products include spicy, global tastes for the grill and packaging innovations to enhance the flavor of chicken and for easy cooking at home.

The company has added new flavors like herb grinders including basil herb grinder, Italian blend herb grinder, oregano herb grinder, and parsley herb grinder, which will offer the taste of fresh herbs without the inconvenience of chopping.

Among the grill mates marinades, McCormick has launched its first-ever single-use liquid marinades with smoking flavors. It includes varieties like Grill Mates 7 Spice Teriyaki Single Use Marinade, Grill Mates Brown Sugar Bourbon Single Use Marinade and Grill Mates Montreal Steak Single Use Marinade.

The company has also unveiled a wide variety of bold flavors that incorporate global, smoky and spicy ingredients for the best grill.

McCormick has also brought in oven bake and skillet sauces in single-use liquid pouches to enhance the taste of chicken.

McCormick regularly enhances its products through innovation in order to remain competitive and tap the rising demand for new flavors, spices and herbs, which are fast replacing demand for sugar, salt and fat.

We note that the company has witnessed a 20% rise in spice, herb and seasoning purchases in the last five years, owing to the rising demand for flavors. We believe the announcement of new products will surely lead consumers to explore more flavors at home. This will further boost its sales.

McCormick has also been strategically increasing its presence through acquisitions in order to expand its spices and seasonings portfolio. Currently, McCormick is eyeing British food manufacture Premier Foods PLC and has approached it with a cash offer of 65 cents per share. Though a formal deal has not been made, the company expects the offer to please Premier Foods' shareholders, employees, pensioners, creditors, and other stakeholders. McCormick is required to make a firm offer for Premier under British takeover rules by Apr 20. If it moves ahead with the acquisition, McCormick expects to gain from Premier Foods’ range of mainstream grocery brands that are slow-growing but profitable.

McCormick has a Zacks Rank #2 (Buy). Investors interested in the space can also consider Campbell Soup Company CPB, Post Holdings, Inc. POST and Sysco Corp. SYY. While Campbell and Post Holdings sport a Zacks Rank #1 (Strong Buy), Sysco holds a Zacks Rank #2.

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SYSCO CORP (SYY): Free Stock Analysis Report
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MCCORMICK & CO (MKC): Free Stock Analysis Report
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