McCormick is the world's largest spices and seasonings company, making and selling herbs, spices, seasoning blends, condiments, sauces, and flavoring products globally. McCormick's well-known consumer brands include McCormick, Frank's RedHot, Cholula, French's, Lawry's, and OLD BAY. McCormick operates through two segments: Consumer (~58% of sales) and Flavor Solutions (~42% of sales). The Consumer segment sells branded spices, seasonings, and condiments through grocery, mass merchandise, warehouse clubs, and e-commerce. The Flavor Solutions segment sells customized flavors and seasoning blends as ingredients to food manufacturers and foodservice operators. Walmart represents ~12% of consolidated sales, and PepsiCo is McCormick's largest Flavor Solutions customer at ~12% of consolidated sales. Consumer is the higher-margin segment, reflecting the value of McCormick's brands, while Flavor Solutions margins are lower and more variable. Key costs include agricultural raw materials sourced from ~80 countries, packaging, and transportation, with tariff exposure given McCormick's reliance on imported ingredients. McCormick manages costs through its ongoing CCI savings program and targeted pricing. The business is seasonal, with Q4 generating disproportionately higher sales and profits. McCormick's growth strategy focuses on category management, brand marketing investment, product innovation, distribution expansion, and winning new Flavor Solutions customers. In January 2026, McCormick acquired a controlling 75% stake in McCormick de Mexico, a major Mexican food company, which is expected to contribute 11-13% to FY26 top-line growth.