McCormick Expands Stake in its Mexican Joint Venture to 75% in a $750 Million Deal
McCormick said on Thursday it will raise its stake in its Mexico joint venture to 75% by acquiring 25% more for $750 million as the condiments maker seeks to expand further in Latin America.
Founded in 1947, the joint venture with Mexican food processing company Grupo Herdez has been a dominant player in the condiments and sauces segment of Latin America's second-largest economy.
McCormick de Mexico's portfolio consists primarily of mayonnaise, including...
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