US-based flavour manufacturer and distributor McCormick & Company has completed the purchase of an additional 25% controlling interest in McCormick de Mexico.
The stake was acquired from Grupo Herdez under an agreement signed on 21 August 2025, increasing its ownership in the business to 75%.
McCormick de Mexico was created in 1947 as a partnership between McCormick and Grupo Herdez.
McCormick said the move strengthens its presence in Mexico and creates a base for further expansion across Latin America.
The purchase price of $750m was funded through a mix of cash on hand and commercial paper.
According to the company, the transaction is expected to be accretive to net sales, adjusted operating margin and adjusted earnings per share in 2026.
Adjusted operating margin and adjusted earnings per share exclude transaction and integration costs.
The acquisition is also expected to have a limited effect on McCormick’s net debt to adjusted EBITDA ratio.
McCormick & Company chairman, president and CEO Brendan M. Foley said: “We are excited to acquire majority ownership in McCormick de Mexico, further strengthening our track record of driving shareholder value through strategic acquisitions.
“With the expanded ownership, we plan to build on McCormick de Mexico’s strong performance by leveraging our combined expertise in category management, insight-driven innovation, and best-in-class marketing to expand in adjacent categories and increase channel penetration.”
McCormick added that it will provide fiscal 2026 guidance, including the impact of the acquisition, during its fourth-quarter earnings call scheduled for 22 January 2026.
Founded in 1889 and headquartered in Hunt Valley, Maryland, McCormick operates globally in the manufacture, marketing and distribution of herbs, spices, seasonings, condiments and flavours, serving retail, food manufacturing and foodservice customers in more than 150 countries and territories.
