07:16 AM EDT, 08/21/2025 (MT Newswires) -- McCormick ( MKC ) said Thursday that it signed a definitive deal to acquire an additional 25% stake in its McCormick ( MKC ) de Mexico joint venture with Grupo Herdez for $750 million, increasing its ownership in the venture to 75%.

The transaction is expected to expand its global condiments and sauces portfolio, increasing its contribution to net sales to 22% from 14%, the company said, adding that the deal is expected to be accretive to adjusted earnings per share in the first year.

McCormick ( MKC ) said it will finance the acquisition with a combination of cash on hand and debt, and that certain transaction costs are expected to impact earnings per share.

The transaction is expected to be completed early in fiscal 2026, the company said.