McCormick and Company is the largest spice producing company in the world. They are accepted as one of the most successful companies in the Processed and Packaged Goods industry. In 1889, McCormick and Company was founded by Willoughby M. McCormick in Baltimore, Maryland. All in Willoughby’s home, the business started out selling syrups, root beer, juices, and flavoring extracts. After one year, McCormick and Company was profitable enough to expand business and open several new lines, offering consumers many different products like ammonia, castor oil, food coloring, and several more. Willoughby’s brother joined the company their third year of business. By 1894, the company started exporting overseas. A big milestone for the McCormick and Company was when they purchased Emmett Spice Company in Philadelphia. The McCormick brothers incorporated the business in 1903, and fully committed themselves to the spice industry. They opened an export office in New York City in which they shipped their products to several countries. …show more content…
McCormick and Company was able to get business back up and running very quickly with new products: Clover Blossom spices and Banquet teas. Throughout the next twenty years, the company continued with expansion and recognition as a national brand. The stock market crash sent the company into immense peril. Their sales plummeted and Willoughby decided the best solution was to cut wages. However, he died from a heart attack and was unable to make this change. His nephew, Charles, took over the business at the age of 36 and instilled a new philosophy amongst McCormick and Company. According to Charles, the most important part of this company was their workforce. Over the next several decades the company continued to see expansion and success. In 1983, the company reported revenues of 86 million dollars which transferred to 13 million in