Business
McCormick Advances Flavor Leadership in Mexico
McCormick & Company Inc. (NYSE: MKC) (the "Company"), a global leader in flavor, today announced that it has signed a definitive agreement, subject to customary closing and regulatory conditions, with Grupo Herdez to acquire an additional 25% ownership interest in McCormick de Mexico, a joint venture formed in 1947, for $750 million. The acquisition will increase McCormick's ownership to 75%, creating opportunities for further growth in the Mexican market. Additionally, the transaction provides
About this update from Grupo Herdez Sab De Cv
[{"type":"text","content":"Signs Agreement to Acquire Controlling Interest in McCormick de MexicoExpands Presence in Condiment and Sauces in Emerging MarketsExpects Net Sales, Adjusted Operating Margin, and Adjusted EPS Accretion in the First Year","length":222,"tagName":"p","attribs":{}},{"type":"text","content":"HUNT VALLEY, Md., Aug. 21, 2025 /PRNewswire/ -- McCormick & Company Inc. (NYSE: MKC) (the "Company"), a global leader in flavor, today announced that it has signed a definitive agreement, subject to customary closing and regulatory conditions, with Grupo Herdez to acquire an additional 25% ownership interest in McCormick de Mexico, a joint venture formed in 1947, for $750 million. The acquisition will increase McCormick's ownership to 75%, creating opportunities for further growth in the Mexican market. Additionally, the transaction provides a strategic platform for further expansion in Latin America. McCormick de Mexico is a prominent food company in Mexico, with a broad portfolio, including mayonnaise, spices, marmalades, mustard, hot sauce, and tea, sold under McCormick brands.","length":809,"tagName":"p"},{"type":"text","content":""This marks the beginning of an exciting new chapter for McCormick in Mexico. With this expanded ownership, we will advance our global flavor leadership and increase our presence in condiments and sauces," said Brendan M. Foley, Chairman, President, and Chief Executive Officer. "The McCormick brand has been a household staple in Mexico for 78 years, with market leadership in high-growth categories, most notably in mayonnaise. In addition, the brand commands strong loyalty among Mexican consumers and foodservice operators. The strength of the brand and its remarkable track record combined with our differentiated global flavor expertise and capabilities will enable us to drive further growth in Mexico, an attractive and high growth market."","length":773,"tagName":"p"},{"type":"text","content":"Mr. Foley continued, "We have had a long and successful partnership with Grupo Herdez, and we look forward to continuing our collaboration. With the expanded ownership of McCormick de Mexico, we plan to build upon their strong results by leveraging our combined expertise in category management, insight-driven innovation as well as best-in-class marketing to expand in adjacent cat...