Just In: McCormick To Acquire Additional 25% Ownership In Mexico Joint Venture
Synopsis
McCormick said the acquisition will increase its ownership to 75% in McCormick de Mexico, creating opportunities for further growth in the Mexican market.
McCormick & Co. (MKC) announced on Thursday that it has signed a definitive agreement with Grupo Herdez to acquire an additional 25% ownership interest in McCormick de Mexico for $750 million.
McCormick de Mexico is a joint venture formed in 1947 between McCormick and Grupo Herdez. The company said the acquisition will increase McCormick's ownership to 75%, creating opportunities for further growth in the Mexican market.
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