After AVT, McCormick acquires stake in Eastern Condiments

McCormick & Company Inc has acquired 26% stake in Eastern Condiments Pvt Ltd. The stake is bought for approximately Rs. 163 crores ($35 million) and the deal values Eastern Condiments approximately at Rs. 629 crores ($135 million). McCormick holds 50% stake in AVT McCormick Ingredients Pvt Ltd. AVT is a prominent tea brand in Kerala.

Eastern is a leading spices, curry masala and other semi processed package foods brand in Kerala. Their products primarily reaches Keralites across the world. Mr. M.E. Meeran is the chairman of the company. VC Circle has a detailed report.

McCormick must have bigger plans in Kerala and India.

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