- Business
- McCormick & Company, Incorporated (MKC) manufactures, markets, and distributes spices, seasoning mixes, condiments, and other flavorful products to retailers, food manufacturers, foodservice operators, and restaurants worldwide. Founded in 1889 and headquartered in Hunt Valley, Maryland, the company operates in approximately 150 countries and territories through two primary segments: Consumer, which offers spices, herbs, extracts, recipe mixes, sauces, marinades, stocks, broths, salad dressings, breadings, and branded retail products including McCormick, Frank's RedHot, and Cholula; and Flavor Solutions, which provides customized flavorings, coating systems, condiments, and ingredients for industrial food production and professional kitchens. The company maintains a global supply chain with manufacturing facilities across North America, Europe, Asia-Pacific, and Latin America, serving diverse customer bases from household consumers to large-scale food processors.
In recent developments, McCormick signed a definitive agreement in August 2025 to acquire an additional 25% stake in its long-standing McCormick de Mexico joint venture with Grupo Herdez for $750 million, increasing its ownership to 75% and expected to close in early fiscal 2026; this strategic move enhances its condiments and sauces portfolio, projected to rise from 14% to 22% of global net sales, while strengthening presence in the fast-growing Latin American market. The transaction, financed through cash and debt, aligns with McCormick's emphasis on emerging markets and is anticipated to be accretive to adjusted earnings per share within the first year. Additionally, the company reported strong fiscal 2024 results with momentum in volume growth and share gains, alongside a November 2025 increase in its quarterly dividend from $0.45 to $0.48 per share on common stock.