Herdez sells 25% of McCormick Mexico; transaction reaches $750 million

The relationship between Grupo Herdez and McCormick & Company dates back 78 years, consolidating one of the longest-standing collaborations in the Mexican food industry. The recent transaction, which increases McCormick's stake from 50% to 75%, reaffirms mutual trust and opens the door to new opportunities in the domestic market.

Grupo Herdez informed the Mexican Stock Exchange (BMV) that the transaction has a total value of $750 million. Through this agreement, Herdez will retain the remaining 25% stake, maintaining its stake in sales, distribution, and other operational services.

The transaction is expected to close in early 2026, subject to customary closing conditions.

For the past 12 months, ending June 30, McCormick Mexico reported net sales of $892 million and cash flow of $185 million. These results reinforce the strength of the business and confidence in its future expansion under the new ownership structure.

Héctor Hernández-Pons Torres, president of Grupo Herdez, emphasized that the transaction will allow the company to:

• Explore new strategic opportunities.
• Maintain its scale and penetration in the Mexican market.
• Optimizing shareholder returns by reconfiguring the portfolio.

For his part, Brendan Foley, CEO of McCormick & Company, highlighted the contribution of Grupo Herdez over three generations, positioning McCormick as one of the most recognized brands in Mexico.

The strengthening of McCormick & Company's stake will allow us to expand the depth of our product portfolio, exploring new segments and regional opportunities. This strategic evolution consolidates the brand's relevance and its capacity for innovation in Mexico and Latin America.