“We take the science of flavor very seriously,” says Lawrence Kurzius, CEO of the world’s largest spice purveyor by chloesorvino
hive of food scientists in white lab coats and protective goggles buzz quietly around McCormick & Co. CEO Lawrence Kurzius, filling test tubes and testing the contents with their noses. A garden of herbs grows on the wall behind them, accenting the room with fresh sprouts of mustard seed, amber peas, Brazilian parsley and other spices.
Most of that growth has come from the purchase of the food assets of the of U.K.-based Reckitt Benckiser Group for $4.2 billion two years ago. That was more than the combined cost of all the acquisitions made in McCormick’s 130-year history, and investors hated it, sending the stock down 5% the day it was announced. But in retrospect it was a brilliant move. It gave Kurzius control of a slew of supermarket staples, including French’s mustard, Cattlemen’s barbecue sauce and Frank’s RedHot.
Frank’s RedHot was the secret ingredient in the Reckitt deal. The vinegary concoction is America’s favorite hot sauce, famously used to spice up Buffalo-style chicken wings. Kurzius’ army of food technicians extracted Frank’s flavor.
McCormick’s bottles are ubiquitous in the spice racks of most American kitchens, and seasonings like Old Bay still make up the bulk of sales. The brand controls 40% of the U.S. spice market and 20% of the world’s. But it’s a low-growth commodity business, and Kurzius is wise to turn his attention elsewhere.
In his favor, Kurzius has spent decades obsessing over the competition. A natural-born entrepreneur who started selling garden seeds in his native Huntsville as a kid, he’s hawked Uncle Ben’s Rice at Mars and Cap’n Crunch cereal at Quaker Oats. Before McCormick, he spent 12 years at Zatarain’s lifting sales of the small New Orleans–style rice brand from $15 million to $120 million, before selling it to McCormick in 2003 for $180 million. He’s been there ever since.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Hot Stuff: Lawrence Kurzius Spices Up McCormick's BusinessThe 6-foot-3 Alabama native is in his element, his slow southern drawl slipping through as assistants rattle off the lab’s features: a rotary evaporator that extracts flavor without heat; a centrifuge powerful enough to turn thick, pulpy condiments into totally clear and totally tasty liquids; a...
Leer más »
Lizzo Talks About Her Hot Girl Summer And Her White Girl Fans'You can all come, but know that a Black girl is throwing this party, so it's going to be some Black shit'
Leer más »
2019 hot car deaths surpass national average, automakers voluntarily commit to back seat alertsDespite numerous warnings and national news stories on hot car deaths, children are dying of vehicular heatstroke at a staggering rate. Forty children have died after being left alone in a hot vehicle so far in 2019, according to the National Safety Council. This week the Alliance of Automobile Manufacturers
Leer más »
Twice-Roasted Sweet Potatoes with Hot Honey RecipeThis recipe embraces the incredible natural sweetness of sweet potatoes but gives it a spicy edge.
Leer más »
Jennifer Lopez Is Sizzling Hot for 'Hustlers' Premiere at Toronto International Film FestivalJennifer Lopez, Constance Wu and all the stars of 'Hustlers' who attended the film's special premiere event at the Toronto International Film Festival.
Leer más »
By 2025 Nearly All New Vehicles Will Come With Alerts To Prevent Hot Car DeathsBy 2025, almost all cars will have alarm systems to remind people to check the backseat in an effort to prevent hot car deaths.
Leer más »