McCormick to acquire 25% stake in McCormick de Mexico for $750M, raising ownership to 75%

MCCORMICK & CO INC

Acquires additional 25% interest in McCormick de Mexico from Grupo Herdez for $750M, increasing ownership to 75%.
Transaction expected to close early fiscal 2026; financed with cash and debt, minimal leverage impact.
McCormick de Mexico annual net sales ~$810M, with mid-single-digit growth expected; acquisition multiple ~12x EBITDA.
Deal expected accretive to adjusted EPS in first year; condiments & sauces portfolio to rise from 14% to 22% of net sales.
Strengthens platform for Latin America expansion; Grupo Herdez retains 25% stake and will continue collaboration.

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