BALTIMORE — McCormick & Co., Inc. intends to make hot sauce “the condiment of the next generation.”
Presenting to analysts at the Feb. 23 Consumer Analyst Group of New York virtual conference, Lawrence E. Kurzius, president and chief executive officer of McCormick, said the company’s efforts to realize that aim embrace “staying contemporary and in the moment with our consumers.”
To that finish, McCormick is constructing model relevance and scorching sauce consciousness by its model advertising and marketing and e-commerce initiatives. A current instance consists of tv ads that includes Frank’s PurpleHot and former National Football League participant Eli Manning that ran throughout the NFL season. McCormick is also selling the “motherlode of flavor” in its Cholula sauces.
Both Frank’s PurpleHot (acquired in August 2017) and Cholula (acquired in November 2020) are relative newcomers to McCormick’s portfolio, however their influence has been important.
“The acquisitions of our Frank’s RedHot and Cholula brands and the organic growth we’ve delivered has advanced McCormick to be the No. 1 hot sauce company in the world,” Mr. Kurzius stated. “Global growth in hot sauce is projected to outpace the total condiment category. The younger generation is driving that growth, and we plan to drive hot sauce to be the condiment of the next generation. We have the fastest-growing hot sauce brands with Frank’s RedHot and Cholula over-indexing with younger generations, and we continue to gain share in the US and international markets. Consumers want a more flavorful and approachable hot sauce, and we have the perfect blend of flavor and heat with our products.”
He added that with Frank’s PurpleHot and Cholula now in the fold McCormick is delivering on shoppers’ demand for warmth and gaining new households with merchandise throughout its complete portfolio for each degree of warmth shoppers crave.
“We have grown Frank’s household penetration double digits over the last four years and have doubled Cholula’s since its acquisition a year ago,” he stated. “We have expanded into new formats and categories and are continuing to blaze forward with new innovation, including a Frank’s Nashville Hot Wings Sauce this year.”
Mr. Kurzius stated greater than 40% of McCormick’s new product gross sales in 2021 associated to scorching and spicy.