Reported 2 days ago
McCormick & Co. has agreed to purchase a 75% stake in its joint venture with Grupo Herdez for $750 million, increasing its share from 50%. This partnership, established in 1947, focuses on condiments and sauces, particularly mayonnaise, with annual net sales around $810 million. McCormick's CEO expressed optimism about expanding operations in the growing Mexican market and Latin America, while Grupo Herdez aims to pursue other strategic opportunities.
Source: YAHOO