Reckitt Benckiser is selling its food division, including French’s ketchup and mustard, to McCormick & Co. for about $5.3 billion.
French’s ketchup has been controversial since Loblaws took it off its shelves a little more than a year ago because it deemed the product not Canadian enough. It reversed that decision within 24 hours after consumer outrage.
For its part, Reckitt Benckiser decided to not only source Ontario-grown, Ontario-processed tomatoes for its ketchup, but also built a new bottling plant in Toronto that opened this May.
Yet when it comes to decision-making and profits, both Heinz and French's are controlled by foreigners.
I still prefer French's on the basis that Heinz is now controlled by a bunch of profit-hungry bullies from Brazil and Omaha, Neb. - i.e. the 3G group and Warren Buffet's Berkshire Hathaway.
That pair is also doing a pretty good job of wrecking Tim Horton's.
Maryland-based McCormick, perhaps best known for Billy Bee honey, was apparently competing with Uniliver and Hormel after Reckitt Benckiser announced its plans to sell the food division.
It also makes products such as Durex condoms, Mucinex cold medicine, Woolite detergent, Clearasil acne treatment.