McCormick Boosts Guidance Following RB Foods Acquisition
McCormick (NYSE: MKC) has cashed in on rising demand for spices and flavorings for foods, and a successful corporate strategy has made the company a leader in its niche. Consumers buy McCormick's brand-name products at countless retail locations, and institutions in the commercial food space also turn to McCormick to get its flavorings and spices for the products on their menus.
Coming into Thursday's fiscal third-quarter financial report, McCormick investors wanted evidence that the spice maker could keep generating solid growth in sales and profits. The company delivered on that front, and its recent acquisition of RB Foods stands to help McCormick boost its growth throughout the rest of the fiscal year and beyond. Let's look more closely at how McCormick did and what's ahead for the flavor specialist.
Image source: McCormick.
Source: Fool.com
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