McCormick to acquire an additional 25% stake in McCormick de Mexico from Grupo Herdez for $750m.

McCormick, a manufacturer and distributor of flavor products, agreed to acquire an additional 25% stake in McCormick de Mexico, a food company with a portfolio composed of mayonnaise, spices, marmalades, mustard, hot sauce, and tea, sold under McCormick brands, from Grupo Herdez, for $750m. "We have had a long and successful partnership with Grupo Herdez, and we look forward to continuing our collaboration. With the expanded ownership of McCormick de Mexico, we plan to build upon their strong results by leveraging our combined expertise in category management, insight-driven innovation as well as best-in-class marketing to expand in adjacent categories and increase channel penetration. Additionally, this transaction creates a strategic platform for scaling our operations and distribution across Latin America, consistent with the strategic plans we laid out at Investor Day," Brendan M. Foley, McCormick Chairman, President, and CEO.