McCormick & Company manufactures, markets and distributes spices, seasoning mixes, condiments, and other flavoring products. The company operates through two segments: Consumer and Industrial. McCormick offers its customers a range of products such as organic, gluten-free and non-GMO. The company offers brands for consumers in approximately 140 countries and territories.
McCormick has spent $150 million in recent years to develop healthier products that have less sodium and calories, and the company now offers 450 salt-free products. Additionally, McCormick has committed to labeling over 70% of its McCormick branded spices, herbs, and extracts in the U.S. as non-GMO, and its U.S. premium Gourmet line will soon be 80% organic. McCormick tracks trend data of its key performance indicators, and by 2019 aims to reduce GHG emissions by 5%, electricity use, water use, and solid waste by 10% and bottle packaging weight by 20%. At least 70% of McCormick’s facilities received internal environmental assessments in the previous year, and many receive audits and certifications from the Global Food Safety Initiative, too. The company has a strong supplier Code of Conduct with new methods for engaging its producers on sustainability, and it identifies suppliers with high-risk profiles in order to help manage operations more responsibly. McCormick is a member of the Sustainable Spice Initiative.
While McCormick has sustainability goals at the production level, the company lacks specific initiatives at the supplier level. Additionally, McCormick does not have programs or targets to address sustainable palm oil or dairy sourcing.
Industry: Consumer Staples
Country: United States
To the best of our knowledge the above information is accurate and was obtained from sources we believe to be reliable. Neither the information presented above nor any opinion expressed shall be construed as an offer to sell or a solicitation to buy the security. The views expressed are those of portfolio management as of 12/31/16 and may not reflect current opinions or subsequent events.