McCormick to Buy Added 25% Stake in Mexico Venture for $750 Million

Dow Jones

Aug 21

By Colin Kellaher

McCormick is paying $750 million to take control of McCormick de Mexico, a joint venture formed in 1947 with Grupo Herdez.

McCormick on Thursday said it will acquire an additional 25% interest in the venture from Herdez, boosting its stake to 75%.

The Hunt Valley, Md., spice and condiment maker said the move creates opportunities for further growth in the Mexican market and provides a platform for further expansion in Latin America.

McCormick de Mexico generates annual sales of about $810 million.

McCormick said it plans to finance the transaction, slated to close early in fiscal 2026, with cash on hand and debt, adding that it expects the deal will have a minimal impact on its net debt-to adjusted-Ebitda ratio.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

August 21, 2025 06:46 ET (10:46 GMT)

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