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McCormick & Company, Incorporated (NYSE: MKC) is a global leader in flavor and has been a trusted name in the industry for over 130 years. Headquartered in Hunt Valley, Maryland, the company manufactures, markets, and distributes a wide array of spices, seasoning mixes, condiments, and other flavorful products to the entire food industry including e-commerce channels, grocery stores, food manufacturers, and food service businesses.
McCormick's broad product portfolio includes popular brands such as McCormick, French's, Frank's RedHot, Stubb's, OLD BAY, Lawry's, Zatarain's, Ducros, Vahiné, Cholula, Schwartz, Kamis, DaQiao, Club House, Aeroplane, and Gourmet Garden. These products reach consumers in more than 150 countries and territories around the world.
McCormick's commitment to quality and innovation is evident through its extensive partnerships with farmers and suppliers across 40 different countries, guaranteeing year-over-year consistency and great-tasting quality spices. The company’s relentless focus on sustainability and purpose-led performance has embedded itself into its culture, driving significant achievements and growth.
Recent notable developments include the promotion of Brendan Foley to President and CEO effective September 1, 2023, succeeding Lawrence E. Kurzius who will continue as Executive Chairman. Under Kurzius's leadership, the company saw remarkable growth, including top-tier organic sales growth and the acquisitions of iconic brands like Frank's RedHot, French's, and Cholula.
McCormick reported strong financial performance for the fiscal year 2023, with a significant increase in gross profit margin and operating income. The company has raised its profit outlook for fiscal 2024 due to robust demand across its portfolio and successful cost optimization strategies.
In its continuous efforts to stay ahead in a fast-changing world, McCormick recently entered a transformative agreement with Cognizant to manage its global technology infrastructure. This partnership aims to deliver best-in-class user experiences for McCormick's global workforce and accelerate the company's digital transformation journey.
McCormick is guided by its purpose – To Stand Together for the Future of Flavor – envisioning a world united by healthy, sustainable, and delicious food. For more information, visit McCormick Corporation or follow McCormick & Company on Instagram and LinkedIn.
McCormick & Company (NYSE: MKC) has released its 2022 Purpose-led Performance Progress Report, underlining its commitment to sustainable practices and positive community impact. Key achievements include:
- Increased resilience for over 31,000 farmers, aiming for 35,000 by 2025.
- Over 84% of top five branded ingredients sustainably sourced, nearing 100% for Red Pepper and Vanilla.
- Reduction of Scope 1 & 2 emissions by 40% and Scope 3 emissions by 20% since 2020, with a new goal of a 42% reduction by 2030.
McCormick has been recognized in various sustainability indices, ranking 22nd on the Corporate Knights Global 100 Sustainability Index. Its commitments include enhancing diversity in leadership and transitioning to renewable energy sources.
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