Sparks-Based McCormick & Co. Raises $492M of $1B Offering - CBL

By Citybizlist Staff

SPARKS -- Specialty spice maker McCormick & Co. Inc. (NYSE: MKC) has raised $492 million of a $1 billion debt offering, according to an amended Reg D filing with the U.S. Securities and Exchange Commission.

The first sale of the offering was registered Aug. 1, 2008. It is being managed by Atlanta-based SunTrust Capital Markets Inc., Wells Fargo Securities LLC of Charlotte, N.C., and New York firms Goldman Sachs & Co.; Banc of America Securities LLC; Merrill Lynch, Pierce, Fenner & Smith Inc.; Credit Suisse First Boston Corp.; and Citigroup Global Markets Inc.

Sparks, Md.-based McCormick so far has paid $250,000 in commissions.

Principals named in the filing are: CEO and Chairman Alan Wilson; general counsel, Vice President and Secretary W. Geoffrey Carpenter; other executives Charles Langmead, Cecile Perich, Gordon Stetz, Paul Beard, Kenneth Kelly, Lawrence Kurzius and Mark Timbie; and directors John Bilbrey, James Brady, J. Michael Fitzpatrick, Freeman Hrabowski, Michael Mangan, Joseph McGrath, Margaret Preston, George Roche and Williams Stevens.

McCormick manufactures, markets and distributes spices, seasonings and flavors to the food industry. Customers range from retail outlets and food manufacturers to food service businesses.

Reg D filing: http://tinyurl.com/yfnxe4b

Also in Citybizlist, see:

McCormick's Short Base Well Above Sector Average

McCormick & Co. Earnings Call Highlights with CEO Alan Wilson

McCormick Announces Third Quarter Financial Results

Bios from McCormick's Web site:

Alan Wilson
CHAIRMAN, PRESIDENT & CHIEF EXECUTIVE OFFICER
Management Committee

Alan Wilson is Chairman, President & Chief Executive Officer. He joined McCormick in 1993, as Director of Procurement for retail products and the following year was promoted to Vice President, Corporate Procurement. He has since served a variety of roles within the Company gaining an understanding of the different facets of McCormick operations from supply chain to leadership of various business units.

During his tenure at McCormick, Mr. Wilson has held several executive management roles including President - Tubed Products, President - McCormick Canada, President - North American Consumer Products and, most recently, President & Chief Operating Officer. Prior to joining McCormick, Mr. Wilson worked for nine years at Procter & Gamble, where he held progressively responsible positions in product supply.

Born in South Carolina, Mr. Wilson earned a BS degree in communications from the University of Tennessee in 1980. He attended college on an R.O.T.C. scholarship and following college served as a U.S. Army Captain, with tours in the United States, United Kingdom and Germany.

Mr. Wilson serves on the Board of Directors for the Grocery Manufacturers Association and the St. Paul's School Board of Trustees.

KENNETH A. KELLY, JR.
Senior Vice President & Controller

Kenneth Kelly is Senior Vice President & Controller. In his years with McCormick he has held senior level finance positions at both corporate and operating units.

Prior to joining the Company, Mr. Kelly held the position of Assistant Corporate Controller at United Technologies in Hartford, Connecticut. With twelve years of service at Black & Decker Corporation, he held senior financial positions, including Corporate Controller and Assistant Treasurer. Mr. Kelly began his career in finance with Ernst & Young.

Born in Baltimore, Maryland, Mr. Kelly earned a BA degree in accounting as well as an MBA from Loyola College in Maryland.

He is a member of the American Institute of CPAs, Maryland Association of CPAs, Financial Executive International and serves on the National Committee of Corporate Reporting of FEI. Mr. Kelly is the Treasurer and serves on the Executive Board for the Baltimore Area Council of Boy Scouts of America and is on the accounting Advisory Board for Loyola College.

CHARLES T. LANGMEAD
President - U.S. Industrial Group
Management Committee

Charles Langmead is President - U.S. Industrial Group. His responsibilities include the management of key global industrial customers. He is also a member of McCormick's Management Committee.

Mr. Langmead joined McCormick in 1976 and has served in various financial, marketing and sales management capacities over his career. Prior to being named to his current position in 2005, he was Vice President & General Manager - Food Service and Global Restaurant Divisions, which included responsibility for the industrial businesses in the Asia/Pacific region and Food Service business in Canada. He is an Emeritus member of McCormick's Multiple Management Board.

Born in Baltimore, Maryland, Mr. Langmead earned a BA degree in business from Loyola College in Maryland and a MAS degree from Johns Hopkins University.

He serves on the Board of Directors for Junior Achievement of Central Maryland.

GORDON STETZ
Executive Vice President & Chief Financial Officer
Management Committee

Gordon Stetz is Executive Vice President and Chief Financial Officer. His responsibilities include controllership, financial accounting and reporting, tax, treasury, mergers and acquisitions, financial planning and analysis, internal audit and Financial Shared Services. He is also a member of McCormick's Management Committee and chairs the Company's Investment Committee.

Mr. Stetz joined McCormick & Company, Inc. in 1987. Prior to his promotion in November 2007, Mr. Stetz had been Vice President - Finance & CFO of Europe since April 2005. Previously, he served as Vice President - Finance and Administration, U.S. Consumer Products Division, Vice President - Acquisitions and Financial Planning, and Assistant Treasurer, Shareholder Services. During his career, Mr. Stetz provided financial leadership during the implementation of SAP in the U.S. and Europe, the restructuring and transformation of the European business, the financial evaluation and integration of the Zatarain's acquisition in the U.S., and the implementation of Financial Shared Services in the U.S. and Europe. In addition, he oversaw the acquisition and integration of Ducros and participated in the overall corporate strategy development. He is an Emeritus member of McCormick's Multiple Management Board.

Born in New Jersey, Mr. Stetz is a graduate of Bucknell University with majors in economics and French and has an MBA from the University of Michigan. He is a CPA in Maryland.

Mr. Stetz is a member of the Board of Directors of Port Discovery, the Children's Museum of Baltimore. He is a member of AICPA, MACPA, FEI, Phi Beta Kappa, and Beta Gamma Sigma.

MARK T. TIMBIE
President - North American Consumer Foods
Management Committee

Mark Timbie is President - North American Consumer Foods. His responsibilities include overseeing the North American Consumer Food Group, including the U.S. Consumer and Industrial manufacturing plants, Mexico and Latin America as well as McCormick's Global Export Department. He is also a member of McCormick's Management Committee.

Mr. Timbie joined McCormick in 1996 as Vice President - Sales & Marketing for the McCormick/Schilling Division. He served as Board Advisor to the Sales Group in the late 1990s. Mr. Timbie was named Vice President & General Manager - Perimeter Products and Consumer Marketing in 2000 and was promoted to President - McCormick Canada in 2001. In 2005, he was promoted to President - International Consumer Products Group. In this capacity he was responsible for overseeing McCormick's consumer businesses in Europe, the Middle East, Africa, Asia Pacific, Canada, Mexico and Latin America as well as McCormick's Global Export Department.

Born in New York, he earned a BS degree from Rutgers and received his MBA degree from Columbia University.

Mr. Timbie serves on the Board of Directors for Tasty Baking Company and Catholic Charities of the Archdiocese of Baltimore.

PAUL. C BEARD
Senior Vice President Finance & Treasurer

Paul Beard is Senior Vice President - Finance & Treasurer. Since 2002 he has had responsibility for treasury, investor relations, mergers and acquisitions, and risk management activities.

Mr. Beard joined the Company's Consumer Products Division in 1982 and held financial positions for Consumer Products and McCormick Flavor operating units. He was promoted to President - McCormick Canada in 1997 and was Vice President, General Manager - Global Restaurant Division until this appointment. He is an Emeritus member of McCormick's Multiple Management Board.

Born in West Virginia, Mr. Beard earned a BS degree in business administration at West Virginia University. He has also received his MBA from Loyola College in Maryland.

Mr. Beard is a Certified Public Accountant and a member of the American Institute of CPAs, the Association of Financial Professionals, and the National Association of Corporate Treasurers. He is a board member of the Baltimore American Heart Association.

LAWRENCE E. KURZIUS
President - International Business
Management Committee

Lawrence Kurzius is President - International Business. He has responsibility for McCormick's consumer and industrial businesses in Europe, the Middle East, Africa, Canada, Asia, and Australia. He will also drive business growth in emerging markets. He is a member of McCormick's Management Committee.

Prior to this, he was the Company's President - Europe, Middle East and Africa starting in 2007. He was President - U.S. Consumer Foods in 2005 and 2006. Mr. Kurzius joined McCormick's U.S. Consumer Foods in 2004 as Vice President and General Manager - Sales and Marketing following the acquisition of Zatarain's in 2003. Mr. Kurzius joined Zatarain's in 1991 and became President and CEO in 1997. Prior to joining Zatarain's, Mr. Kurzius was a marketing executive with the Quaker Oats Company and Mars Inc.'s Uncle Ben's Company.

Born in New York, Mr. Kurzius graduated from Princeton University.

Mr. Kurzius is a former director of the Federal Reserve Bank of Atlanta's New Orleans Branch. He serves on the President's Council of Tulane University.

CECILE K. PERICH
Vice President - Human Relations
Management Committee

Cecile Perich is Vice President - Human Relations. In this position since January 2007, she is responsible for all Global HR functional activities to include compensation, benefits, learning & development, organization development, succession planning, recruitment, safety, wellness and employee relations. She is Secretary of McCormick's Compensation Committee. She is a member of McCormick's Management Committee.

After joining the Company in 1982 at Corporate Headquarters, Ms. Perich served the department as HR Supervisor. In 1984, she became HR Manager - McCormick Construction, and in 1987 she became HR Director - McCormick Properties. In 1988, she became HR Manager - Hunt Valley Plant. In 1991, she became Corporate Director of Compensation and Benefits. In 1995, she was promoted to Vice President - HR, U.S. Industrial Group. She is an Emeritus member of McCormick's Multiple Management Board.

Born in Oklahoma, Ms. Perich earned her BS degree in education from Indiana University of Pennsylvania. She also has an MBA from Johns Hopkins University.

Ms. Perich serves on the Executive Committee and is Chair for the National Board of Directors of the Arthritis Foundation.

W. GEOFFREY CARPENTER
VICE PRESIDENT
General Counsel & Secretary

Geoff Carpenter is Vice President, General Counsel and Secretary. Mr. Carpenter was appointed to his current position in December 2008.

After joining the Company's Legal staff in 1984, Mr. Carpenter became Associate General Counsel and Associate Secretary in 1996. He is an Emeritus member of McCormick's Multiple Management Board.

Born in Frankfurt, Germany, Mr. Carpenter is a graduate of Duke University, received his law degree from The University of Virginia and an MBA from The Johns Hopkins University.

Board of Directors

John P. Bilbrey
Senior Vice President
The Hershey Company
President - Hershey North America
Hershey, Pennsylvania
Director since 2005
Nominating/Corporate Governance Committee

James T. Brady
Managing Director, Mid-Atlantic
Ballantrae International, Ltd.
Ijamsville, Maryland
Director since 1998
Audit Committee*

J. Michael Fitzpatrick
Chairman & Chief Executive Officer
Citadel Plastics Holdings, Inc.
Radnor, Pennsylvania
Director since 2001
Audit Committee

Freeman A. Hrabowski, III
President
University of Maryland Baltimore County
Baltimore, Maryland
Director since 1997
Nominating/Corporate Governance Committee*

Michael D. Mangan
President
Worldwide Power Tools & Accessories
The Black & Decker Corporation
Towson, Maryland
Director since 2007
Audit Committee

Joseph W. McGrath
President & Chief Executive Officer (retired)
Unisys Corporation
Philadelphia, Pennsylvania
Director since 2007
Compensation Committee

Margaret Mary V. Preston
Managing Director
Market Executive
US Trust
Bank of America Private Wealth Management
Greenwich, Connecticut
Director since 2003
Nominating/Corporate Governance Committee

George A. Roche
Chairman of the Board & President (retired)
T. Rowe Price Group, Inc.
Baltimore, Maryland
Director since 2007
Compensation Committee

William E. Stevens
Chairman, BBI Group
St. Louis, Missouri
Director since 1988
Compensation Committee