A. D. Elmendorf and M. A. Mandell Multiplicative structure in infinite loop space theory We extend the K-theory functor constructed in our previous paper (Rings, modules, and algebras in infinite loop space theory, Advances in Mathematics 205 (2006) 163-228) to the bicomplete symmetric monoidal closed category of based (symmetric) multicategories, to which our previous source category of permutative categories and lax morphisms maps fully and faithfully.