McCormick & Company, Inc. (MKC) has acquired an additional 25% ownership interest in McCormick de Mexico for $750 million, increasing its stake to 75% and securing majority control of the joint venture. The acquisition, completed with cash on hand and commercial paper, is expected to enhance McCormick’s presence in the Mexican market and contribute positively to revenues, margins, and earnings in 2026.
Founded in 1947 in partnership with Grupo Herdez, McCormick de Mexico represents a significant growth opportunity. The transaction, which is anticipated to have a minimal impact on the company’s net debt-to-adjusted EBITDA ratio, also broadens McCormick’s ability to pursue expansion across Latin America, leveraging its expertise in innovation and marketing.
