McCormick & Company Inc. (NYSE: MKC) announced the completion of the acquisition of an additional 25% ownership interest in McCormick de Mexico from Grupo Herdez, increasing its ownership to 75%.
The acquisition strengthens McCormick's global flavor leadership and enhances growth opportunities in the Mexican market and Latin America.
The purchase price of $750 million was funded through a combination of cash on hand and commercial paper.
Acquisition Details
McCormick acquired 25% ownership in McCormick de Mexico, reaching a total ownership of 75% through a strategic acquisition from Grupo Herdez.
Strategic Growth
The expanded ownership provides a platform for further expansion in Latin America and strengthens McCormick's position in the global flavor market.
Financial Impact
McCormick expects the transaction to be accretive to net sales, adjusted operating margin, and adjusted earnings per share in 2026.
- The acquisition is expected to drive sales growth and enhance McCormick's market presence in the attractive Mexican market and beyond.
- McCormick's track record of strategic acquisitions demonstrates its commitment to driving shareholder value and expanding market opportunities.
McCormick's acquisition of a controlling interest in McCormick de Mexico marks a significant milestone in expanding its global footprint and flavor market leadership.