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By Sean Somerville and Sean Somerville,SUN STAFF Bloomberg News contributed to this article | May 21, 1997
The Spice War is over, and McCormick & Co. Inc. won.Burns Philp & Co., the Australian conglomerate that waged an expensive battle of attrition against the Sparks-based spice giant, is getting out of the business completely.The company said it will sell its money-losing spice business, and three of its top executives are quitting.McCormick had trouble containing glee at beating back a decade-long challenge to a franchise it started building in Baltimore 108 years ago."When you've been engaged in a global war and the other guy who started it waves a white flag, it's tough not to feel good about it," Carroll Nordhoff, McCormick's executive vice president, said yesterday.
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BUSINESS
By Sean Somerville and Sean Somerville,SUN STAFF | March 18, 1998
McCormick & Co. Inc. yesterday said sluggish U.S. consumer sales limited first-quarter earnings growth to 7 percent, but it expects future sales to be bolstered by two new contracts worth $72 million.For the three months that ended Feb. 28, the Sparks-based spice giant reported net income of $16.2 million, up from $15.2 million in the year-earlier quarter. McCormick reported earnings per share of 22 cents, up 10 percent from 20 cents. Sales for the quarter were $415 million, a 2 percent increase from $407 million.
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BUSINESS
March 30, 1993
A Columbia company that holds the patent for a natural pigment that gives farm-raised salmon the glow of their pink, wild cousins expects to sign a licensing agreement with the nation's largest yeast maker.Igene Biotechnology Inc. signed a letter of intent yesterday with Burns Philp Food Inc. of San Francisco. Igene, whose astaxanthin can be added to the food of farm-raised salmon, will receive royalties from Burns Philp, but the exact amount was not disclosed.In exchange, Burns Philp, maker of Fleischmann's yeast, receives the exclusive manufacturing rights.
BUSINESS
By Sean Somerville and Sean Somerville,SUN STAFF | January 15, 1998
McCormick & Co. Inc. said yesterday that fourth-quarter net income rose 5.1 percent, marking the spice giant's fifth straight quarter of earnings growth.For the three months ended Nov. 30, Sparks-based McCormick reported net income of $48.2 million, up from $45.8 million in the year-ago quarter. On a per-share basis, McCormick reported earnings of 65 cents -- up 12 percent from 58 cents. Sales for the quarter were about $557 million, up 3.6 percent from $537 million.Robert J. Lawless, president and chief executive, said most of the company's business units posted quarterly gains.
BUSINESS
By Sean Somerville and Sean Somerville,SUN STAFF | May 22, 1997
McCormick & Co. Inc. is under investigation by the Federal Trade Commission for its marketing practices, according to the Sparks-based spice giant's defeated Australian rival.In a Tuesday evening conference call with Prudential Securities where Burns Philp & Co. discussed its intention to sell its spice business, managing director Ian Clack said that McCormick is the target of an FTC investigation. He told analysts that the federal agency had subpoenaed records of Sydney, Australia-based Burns Philp and grocery stores as part of the investigation.
BUSINESS
By Sean Somerville and Sean Somerville,SUN STAFF | March 18, 1998
McCormick & Co. Inc. yesterday said sluggish U.S. consumer sales limited first-quarter earnings growth to 7 percent, but it expects future sales to be bolstered by two new contracts worth $72 million.For the three months that ended Feb. 28, the Sparks-based spice giant reported net income of $16.2 million, up from $15.2 million in the year-earlier quarter. McCormick reported earnings per share of 22 cents, up 10 percent from 20 cents. Sales for the quarter were $415 million, a 2 percent increase from $407 million.
BUSINESS
By Sean Somerville and Sean Somerville,SUN STAFF | June 17, 1997
McCormick & Co. Inc. said yesterday that its second-quarter profit jumped almost 35 percent, meeting analysts' expectations of a solid performance by the Sparks-based spice giant.For the three months ended May 31, McCormick reported net income of $14.8 million, compared with $11 million during a slump in the year-ago period. Sales were up 5 percent, to $413.7 million from $393.8 million.On a per share basis, net income was 20 cents, up 43 percent from 14 cents."I wouldn't want to say the turnaround is complete," said Robert G. Davey, chief financial officer and executive vice president.
BUSINESS
By Sean Somerville and Sean Somerville,SUN STAFF | June 23, 1996
Almost a half-century ago, McCormick & Co. Inc. coined a risky strategy that helped it become the world's largest spice company: A store need carry only one brand of spices.But now, the Sparks-based spice giant is trying to beat back an Australian challenger that is waging an expensive war of attrition to be that one brand.The emergence of Burns Philp & Co. is just one of the 1990s threats to the 107-year-old company founded in Baltimore that ,, once grew without much effort.McCormick no longer worries only about grocery stores, but also Wal-Mart stores, gourmet stores and drugstores, which also sell spices.
BUSINESS
By Sean Somerville and Sean Somerville,SUN STAFF | May 23, 1997
McCormick & Co. Inc. confirmed yesterday that the Federal Trade Commission is investigating its marketing practices, but it described the probe as limited and insisted it has done nothing wrong."
BUSINESS
April 17, 1993
Va. Blues' merger plan scuttledBlue Cross and Blue Shield of Virginia has said it has no intention of merging with or acquiring Group Hospitalization and Medical Services Inc., the parent of Blue Cross and Blue Shield of the National Capital Area.The Virginia Blues plan had signed a letter of intent to integrate with the Washington-area Blues plan, whose subscribers include more than 400,000 Marylanders in Prince George's and Montgomery counties. But the offer to affiliate expired March 30.Igene signs fish pigment pactA Columbia company that holds the patent for a natural pigment that gives farm-raised salmon a pink coloring said yesterday it had signed a licensing agreement with Burns Philp Food Inc. of San Francisco to manufacture the product.
BUSINESS
By Sean Somerville and Sean Somerville,SUN STAFF | September 18, 1997
McCormick & Co. Inc. yesterday reported net income for the quarter of $20.2 million, a huge improvement from a year-ago loss of $24.3 million due to restructuring charges.The Sparks-based spice giant credited improvement in several businesses for the third-quarter performance, which also included a 4 percent increase in sales, to $423 million."We are particularly pleased with the continued growth of our industrial and food service businesses, the profit improvement of our packaging operations, and the progress we have made in implementing programs to grow our consumer business,` said Robert J. Lawless, McCormick's president and chief executive.
BUSINESS
By Sean Somerville and Sean Somerville,SUN STAFF | June 17, 1997
McCormick & Co. Inc. said yesterday that its second-quarter profit jumped almost 35 percent, meeting analysts' expectations of a solid performance by the Sparks-based spice giant.For the three months ended May 31, McCormick reported net income of $14.8 million, compared with $11 million during a slump in the year-ago period. Sales were up 5 percent, to $413.7 million from $393.8 million.On a per share basis, net income was 20 cents, up 43 percent from 14 cents."I wouldn't want to say the turnaround is complete," said Robert G. Davey, chief financial officer and executive vice president.
BUSINESS
By Sean Somerville and Sean Somerville,SUN STAFF | June 1, 1997
Australian conglomerate Burns Philp & Co. wasn't the only loser in a costly war for shelf space against Sparks-based spice giant McCormick & Co. Inc.Just ask Daniel Martinez, whose family owns Phoenix, Ariz.-based National Spices. He said National Spices lost about $400,000 in annual sales when McCormick gave two grocery chains hundreds of thousands of dollars in 1994 to sack National's line of spices in favor of McCormick's Mojave brand."We could never have paid the kind of money that they were paying," said Martinez, 40, who helps his father run the business.
BUSINESS
By Sean Somerville and Sean Somerville,SUN STAFF | May 23, 1997
McCormick & Co. Inc. confirmed yesterday that the Federal Trade Commission is investigating its marketing practices, but it described the probe as limited and insisted it has done nothing wrong."
BUSINESS
By Sean Somerville and Sean Somerville,SUN STAFF | May 22, 1997
McCormick & Co. Inc. is under investigation by the Federal Trade Commission for its marketing practices, according to the Sparks-based spice giant's defeated Australian rival.In a Tuesday evening conference call with Prudential Securities where Burns Philp & Co. discussed its intention to sell its spice business, managing director Ian Clack said that McCormick is the target of an FTC investigation. He told analysts that the federal agency had subpoenaed records of Sydney, Australia-based Burns Philp and grocery stores as part of the investigation.
NEWS
By Sean Somerville and Sean Somerville,SUN STAFF Bloomberg News contributed to this article | May 21, 1997
The Spice War is over, and McCormick & Co. Inc. won.Burns Philp & Co., the Australian conglomerate that waged an expensive battle of attrition against the Sparks-based spice giant, is getting out of the business completely.The company said it will sell its money-losing spice business, and three of its top executives are quitting.McCormick had trouble containing glee at beating back a decade-long challenge to a franchise it started building in Baltimore 108 years ago."When you've been engaged in a global war and the other guy who started it waves a white flag, it's tough not to feel good about it," Carroll Nordhoff, McCormick's executive vice president, said yesterday.
BUSINESS
April 7, 1995
First Union to buy Virginia bankFirst Union Corp. said yesterday that it signed an agreement to buy Columbia First Bank of Arlington, Va., in a stock swap valued at $60 a share, or $222 million.Charlotte, N.C.-based First Union said the acquisition will make it the second-largest bank in the Washington area, up from third. NationsBank Corp. is the area's largest bank.Columbia First has $2.9 billion in assets, $1.5 billion in deposits and 33 branches in Washington, northern Virginia and Maryland.
BUSINESS
By Sean Somerville and Sean Somerville,SUN STAFF | January 15, 1998
McCormick & Co. Inc. said yesterday that fourth-quarter net income rose 5.1 percent, marking the spice giant's fifth straight quarter of earnings growth.For the three months ended Nov. 30, Sparks-based McCormick reported net income of $48.2 million, up from $45.8 million in the year-ago quarter. On a per-share basis, McCormick reported earnings of 65 cents -- up 12 percent from 58 cents. Sales for the quarter were about $557 million, up 3.6 percent from $537 million.Robert J. Lawless, president and chief executive, said most of the company's business units posted quarterly gains.
BUSINESS
By Sean Somerville and Sean Somerville,SUN STAFF | March 20, 1997
McCormick & Co. Inc.'s new chief executive told shareholders yesterday that 1996 was "the year of the turnaround" and that the Sparks-based spice company is poised for growth."
BUSINESS
By Sean Somerville and Sean Somerville,SUN STAFF | June 23, 1996
Almost a half-century ago, McCormick & Co. Inc. coined a risky strategy that helped it become the world's largest spice company: A store need carry only one brand of spices.But now, the Sparks-based spice giant is trying to beat back an Australian challenger that is waging an expensive war of attrition to be that one brand.The emergence of Burns Philp & Co. is just one of the 1990s threats to the 107-year-old company founded in Baltimore that ,, once grew without much effort.McCormick no longer worries only about grocery stores, but also Wal-Mart stores, gourmet stores and drugstores, which also sell spices.
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