Business & Tech
McCormick Weighing Move to Northern Virginia?
Spice company is looking to move its headquarters and a handful of states are on the menu, according to a Business Journal report.
Does Northern Virginia have the right flavor for McCormick & Co.? The spice company is looking to relocate its Maryland headquarters by April 2018 and Virginia is a consideration, according to a Washington Business Journal report.
The paper notes the maker of Old Bay Seasoning also is considering large sites in Maryland, Delaware and southern Pennsylvania.
The company currently employs between 600 and 700 workers in Baltimore County, the Journal reports.
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McCormick was founded in Baltimore in 1889, and sold root beer extract door-to-door from a horse-drawn carriage, according to a May release.
"Today, McCormick has a leading share of the estimated $10 billion global market for packaged spices and seasonings, with many consumer brands holding a leading position in markets around the world," the release notes.
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And The Motley Fool website had kind things to say earlier this week regarding McCormick's investment potential.
"One of the more interesting aspects of this company stems from the high degree of inside ownership--McCormick's employee 401k plan owns 20 percent of the company," wrote William Bias.
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