McCormick & Company Investor Relations Material

McCormick & Co., Inc. is an American company with global operations producing a range of flavor products, including spices, seasoning mixes, condiments, and other similar items. The company serves the entire food industry, catering to retail outlets, food manufacturers, and food service businesses. It operates through two main business segments: the consumer segment and flavor solutions. The company is headquartered in Hunt Valley, Maryland, and its shares are listed on the NYSE​​​​​.

The company’s history spans over a century, beginning in 1889 when Willoughby M. McCormick founded the company in Baltimore, Maryland. Starting with a small operation in a basement, the company initially produced flavoring extracts, juices, and syrups, which were sold door to door. The business quickly grew, necessitating a move to larger premises at the Baltimore Inner Harbor in 1903, which in turn expanded manufacturing and made shipping easier. The mid-20th century marked a significant period of innovation and expansion for McCormick. They broadened their product range to include a variety of spices, herbs, and seasonings, catering to evolving consumer tastes and the growing popularity of international cuisines. Today, the company is incredibly well-established and competes with the likes of Conagra, General Mills, and Kraft Heinz.

The flavor business segment is a critical part of its operations, focusing on the creation, marketing, and distribution of a wide range of flavor products, primarily for food and beverage manufacturers. This includes a vast array of flavors ranging from natural spices and herbs to complex seasonings and innovative flavor combinations that are used in snacks, beverages, convenience foods, and many other products.

McCormick & Company's consumer segment is focused on manufacturing, marketing, and distributing spices, seasoning mixes, condiments, and other flavorful products directly to consumers. This segment caters to individual consumers cooking food in their homes and covers nearly everything used in a home kitchen on a regular basis.