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With restaurants closed for dining in and the majority of Americans sheltering in place during the coronavirus pandemic, the nation’s ovens and stovetops are working overtime to generate a surge in home-cooked meals.
The current moment is proving both harmful and beneficial for McCormick & Co., maker of herbs, spices, seasonings and condiment brands, such as French’s and Frank’s RedHot. One on hand, it’s damaging in that about 20% of McCormick’s total revenue comes from sales to restaurants, which are struggling right now.
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