Jim Cramer stated that McCormick & Company is still reeling from its acquisition of Unilever's food business, a deal Wall Street views as a colossal overpay. Speaking on his April 10 episode, Cramer noted the stock has been crushed and that he expects management to justify the purchase when the company reports on Thursday. He reflected on a prior interview with CEO Brendan Foley, acknowledging he did not press hard enough on the high cost of the deal, which included brands like Hellmann's mayonnaise. Cramer contrasted his approach with that of the late CNBC anchor Mark Haines, who would have demanded to know why McCormick could run the brands better than Unilever and why it gave away so much of the company.
McCormick & Company IncorporatedMcCormick's acquisition of Unilever's food business is viewed as a colossal overpay, crushing the stock.
Unilever PLC
Unilever PLC