The consumer giant said it was nearing a deal that would see Unilever shareholders own 65 percent of the new, combined food and flavorings company.
said it is nearing a deal to merge its food business with the U.S. spices and food flavorings firm McCormick, with an announcement set come as soon as Tuesday.said it is in “advanced discussions” with McCormick & Company regarding a potential transaction, although work remains ongoing to agree and finalize the transaction.
Foods, excluding parts of its foods portfolio such as its business in India, with McCormick, with an upfront cash component of about $15.7 billion and the majority of the consideration in McCormick equity.Millie Kendall Scores a Win for British Beauty, Changing the Way Data Is Collected and Viewed Upon completion of the transaction, it is expected that Unilever and its shareholders would hold 65 percent of the combined company. Unilever added the transaction would be undertaken by a Reverse Morris Trust, which is intended to be tax-free for U.S. federal income tax to Unilever and its shareholders. Full terms will be revealed if a transaction is agreed.and Vaseline to Hellmann’s, Marmite and Knorr, has confirmed it’s been talking to McCormick, owner of brands including Old Bay, French’s and Schwartz, about a deal. Unilever said the board believes foods is a “highly attractive business, with a strong financial profile led by market-leading brands in growing categories. It is confident in the future of the foods business as part of Unilever.” The consumer giant confirmed that it had received “an inbound offer” for the foods business, and is in discussions with McCormick & Company Inc. The move to merge the foods business dovetails with Unilever’s wider strategy of focusing on the high-growth beauty and wellness businesses.laid out the group’s priorities: “More beauty and well-being and personal care; disproportionate investment in the U.S. and India, and a sharper focus on premium segments and digital commerce.” He added: “We are building a marketing and sales machine that drives desire at scale in our power brands and ensures execution excellence across all channels, to deliver consistent volume growth and gross margin expansion.” Last September Fernandez told the Barclays Global Consumer Staples Conference he expects two-thirds of sales to come from beauty and personal care in the medium term. Beauty and personal care currently account for around 51 percent of sales.. We use vendors that may also process your information to help provide our services. // This site is protected by reCAPTCHA Enterprise and the Google WWD and Women's Wear Daily are part of Penske Media Corporation. © 2026 Fairchild Publishing, LLC. All Rights Reserved.
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