McCormick completed the acquisition of an additional 25% stake in McCormick de Mexico from Grupo Herdez for $750m.

McCormick, a manufacturer and distributor of flavor products, completed the acquisition of 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 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. We are proud of our 78-year partnership with Grupo Herdez and look forward to continuing our collaboration and shared success in the years ahead," Brendan M. Foley, McCormick Chairman, President, and CEO.