Aug 21, 05:30 PM

McCormick Raises Stake in Mexican Joint Venture to 75% in $750 Million Deal; Grupo Herdez Retains 25% and Shares Surge 25%

McCormick & Company announced it will increase its stake in its Mexican joint venture to 75% by acquiring an additional 25% for $750 million. This move is part of McCormick's strategy to expand its presence in Latin America. Grupo Herdez, the Mexican partner, sold half of its stake in McCormick Mexico through this transaction but will retain a 25% ownership and continue providing distribution services. Following the announcement, Grupo Herdez's shares surged 25% to 69 pesos. The deal aims to enhance McCormick's product portfolio in Mexico and explore new regional opportunities.

#Mexican #McCormick #Latin America #Grupo Herdez #McCormick Mexico #Mexico

Written with ChatGPT (GPT-4).

Sources

El Financiero@ElFinanciero_Mx
6 months ago
Grupo Herdez desinvirtió la mitad de su participación accionaria de la compañía de aderezos, especias y condimentos McCormick, conservando el 25 por ciento de dicha participación https://t.co/dp8wqRMDE6 https://t.co/tC62UM9pXQ
Expansión@ExpansionMx
6 months ago
Los títulos de la empresa mexicana se dispararon después de que se dio a conocer que vendió la mitad de su participación de McCormick en México. https://t.co/5miz7MyWP5
Expansión@ExpansionMx
6 months ago
La empresa mexicana concretó una operación de 750 millones de dólares con McCormick & Company, manteniendo 25% de participación y servicios de distribución. https://t.co/mIRbtnID8y

McCormick Raises Stake in Mexican Joint Venture to 75% in $750 Million Deal; Grupo Herdez Retains 25% and Shares Surge 25%

Sources

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