McCormick completes the acquisition of controlling interest in McCormick de Mexico

McCormick & Company Inc. (NYSE: MKC) (the "Company"), a global leader in flavour, said today that it has acquired an additional 25% ownership stake in McCormick de Mexico from Grupo Herdez, bringing its total ownership to 75%. The Company previously announced a deal to increase its shareholding of McCormick de Mexico on August 21, 2025.

The extended ownership of McCormick de Mexico, a joint venture created in 1947 with Grupo Herdez, improves McCormick's worldwide flavour leadership, presents prospects for additional growth in the attractive Mexican market, and serves as a strategic foundation for future Latin American expansion. McCormick paid the $750 million purchase price with cash on hand and commercial paper.

"We are excited to acquire majority ownership in McCormick de Mexico, further strengthening our track record of driving shareholder value through strategic acquisitions," stated Brendan M. Foley, Chairman, President, and CEO. "With the extended ownership, we intend to build on McCormick de Mexico's great performance by leveraging our combined expertise in category management, insight-driven innovation, and best-in-class marketing to expand into adjacent categories and enhance channel penetration. We are happy of our 78-year cooperation with Grupo Herdez and look forward to continued collaboration and success in the years ahead."

McCormick expects the purchase to boost net sales, adjusted operating margin, and adjusted profits per share in 2026. Adjusted operating margin and adjusted earnings per share do not include transaction or integration costs. Furthermore, the deal is projected to have a negligible impact on McCormick's Net Debt to Adjusted EBITDA ratio. The Company will disclose fiscal 2026 guidance, including the purchase, on its fourth quarter earnings call on January 22, 2026.

Source: McCormick & Company, Inc.