McCormick & Company has acquired the food business of Reckitt Benckiser for £3.2 billion.
The deal includes brands such as French’s Mustard, Frank’s RedHot Sauce and Cattlemen’s BBQ Sauce.
Reckitt Benckiser is a consumer health and hygiene company.
McCormick is a spices, herbs, and flavorings manufacturer.
Reckitt announced in April 2017 that it was looking to sell its non-core food business.
According to Bloomberg rival bidders included Post Holdings and Conagra Brands.
The deal follows Reckitt Benckiser's own expansion into the nutrition market through the acquisition of Mead Johnson Nutrition earlier this year, which Davis Polk also advised on.
Credit Suisse is acting as financial adviser to McCormick, Morgan Stanley is advising Reckitt.