MCCORMICK & CO INC acquired Wuhan Asia-Pacific Condiments Co. Ltd. (WAPC) for $144.8 million, a transaction completed in May 2013, structured as combination (cash and debt). The deal was a Asset purchase.
Wuhan Asia-Pacific Condiments Co. Ltd. (WAPC) operates in Consumer / Flavor Solutions - China condiments, is based in China. WAPC is a privately held company based in China that manufactures and markets DaQiao and Chubang brand bouillon and condiment products. The acquisition expanded McCormick's branded presence in China.
Expanded branded condiment presence in the high-growth China market. McCormick China operations
On May 31, 2013, we completed the purchase of the assets of Wuhan Asia-Pacific Condiments Co. Ltd. (WAPC), a privately held company based in China, for $144.8 million, which included $142.3 million of cash paid, net of closing adjustments, and the assumption of $2.5 million of liabilities. The acquisition was financed with a combination of cash and debt.McCormick FY2015 10-K, business acquisitions note
Advisory firms were not disclosed for this transaction.