US EditionMcCormick Expands Stake in Its Mexican Joint Venture to 75% in a $750 ...
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13 Articles
McCormick to take majority stake in McCormick de Mexico with $750m deal
McCormick & Company has agreed to acquire an additional 25% stake in McCormick de Mexico from long-time joint venture partner Grupo Herdez for $750 million, giving the US flavour manufacturer a controlling 75% interest in the business.
The company’s securities went up almost 29% in the Mexican Stock Exchange. The transaction was closed at $750 million and McCormick will increase its stake to 75%. Herdez will maintain 25% and will continue to offer sales and distribution services. The shares of Grupo Herdez reached a historic maximum of 71 pesos on Thursday in the Mexican Stock Exchange (BMV), after announcing the sale of half of its share in McCormick of Mexico for $750 millio…
Grupo Herdez continues with strategic movements. The company, which recently approved the split of Grupo Nutrisa, announced the r eduction of its shareholding in McCormick in half, remaining at 25%. This decision significantly boosted the performance of its shares in the stock market. The Mexican company sold the shareholding to McCormick & Company in an operation valued at $750 million. As part of the agreement, Herdez will continue to offer se…
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