Finance
Unilever and McCormick Agree to Food Business Deal
Published by Global Banking & Finance Review®
Posted on March 31, 2026
1 min readLast updated: March 31, 2026
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Unilever has reached agreement to separate its food business—including Knorr and Hellmann’s—and merge it with McCormick in a cash‑and‑stock deal, valuing the unit at about $44.8 billion.
Unilever to Merge Food Unit, Including Knorr and Hellmann’s, With McCormick
Unilever's Strategic Food Unit Merger with McCormick
Overview of the Merger Agreement
March 31 (Reuters) - Unilever has agreed to separate its food unit, home to Knorr and Hellmann's, and merge it with spice maker McCormick in a cash-and-stock deal valuing the British firm's food business at about $44.8 billion, the companies said on Tuesday.
Key Brands Involved in the Deal
Knorr and Hellmann’s
McCormick’s Spice Portfolio
Financial Details of the Transaction
Reporting and Editorial Credits
(Reporting by Yadarisa Shabong and Juveria Tabassum in Bengaluru and Richa Naidu in London; Editing by Sherry Jacob-Phillips)
Key Takeaways
- •The proposed merger would combine Unilever’s €12–13 billion food business (about a quarter of its sales in 2025) with McCormick’s spice and seasoning portfolio, creating a global flavor and condiments powerhouse (foodbev.com).
- •The deal is structured as a tax‑efficient Reverse Morris Trust: Unilever spins off its food division, which then merges into McCormick, with Unilever shareholders retaining around 65% of the combined entity (cincodias.elpais.com).
- •This move accelerates Unilever’s strategic pivot toward higher‑growth beauty, personal care, and home brands, while propelling McCormick into a significantly larger global role in condiments and flavor solutions (theguardian.com).
References
Frequently Asked Questions about Unilever and McCormick agree to food business deal
1What companies are involved in the food business merger deal?
Unilever and McCormick are the companies involved in the food business merger deal.
2What is the value of Unilever's food business in this deal?
Unilever's food business is valued at about $44.8 billion in the agreement.
3Which brands are included in Unilever's separated food unit?
The separated food unit includes brands like Knorr and Hellmann's.
4What type of deal is agreed upon by Unilever and McCormick?
The deal is a cash-and-stock merger.
5Where are the reporting and editing teams located?
The reporting teams are in Bengaluru and London, with editing in London.
