McCormick expands Latin America condiments footprint with US$750M buyout
The expanded ownership will enhance McCormick’s global flavor leadership and deepen its presence in condiments and sauces.
MEXICO – McCormick & Company will acquire an additional 25% stake in McCormick de Mexico from long-time joint venture partner Grupo Herdez for US$750 million, giving the U.S. flavor manufacturer a controlling 75% interest.
The deal strengthens McCormick’s foothold in Mexico’s condiments and sauces sector and provides a platform for further growth across Latin America.
Founded in 1947, McCormick de Mexico generates about US$810 million in annual net sales, led by its flagship McCormick Mayonesa con Jugo de Limones.
Its portfolio also includes spices, marmalades, mustard, hot sauce, and tea. The business is expected to deliver mid-single-digit sales growth.
Brendan M. Foley, McCormick’s president and CEO, called the transaction “an exciting new chapter” for the company’s presence in Mexico.
He noted that the McCormick brand, a household staple in the country for 78 years, holds market leadership in high-growth categories, particularly mayonnaise.
“The brand commands strong loyalty among Mexican consumers and foodservice operators,” Foley said. “Its track record, combined with McCormick’s global flavor expertise, positions us to drive further growth in Mexico, an attractive and high-growth market.”
He said the expanded ownership will enhance its global flavor leadership and deepen its presence in condiments and sauces.
The company plans to build on McCormick de Mexico’s strong performance by combining expertise in category management, product innovation, and world-class marketing to grow in adjacent categories and further expand channel penetration.
Foley added that the acquisition also creates a strategic platform for scaling operations and distribution throughout Latin America, aligning closely with the ambitious growth plans outlined at the company’s Investor Day.
Grupo Herdez CEO Héctor Hernández-Pons Torres said the milestone will enable the McCormick brand, with its rich heritage and broad, trusted flavor portfolio, to reach even more consumers across the region.
“With McCormick’s global expertise in herbs, spices, condiments, and sauces, we are excited to capitalize on new opportunities and achieve even greater long-term success together,” Hernández-Pons Torres said.
McCormick emphasized its intent to continue collaborating closely with Grupo Herdez, highlighting the strength of their decades-long strategic partnership.
The transaction is subject to regulatory approval and customary closing conditions and is expected to be finalized in early fiscal 2026.
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