"McCormick CEO Brendan Foley stated that the deal 'accelerates McCormick's strategy and reinforces our continued focus on flavor.' He emphasized that McCormick has 'long admired Unilever's foods business, which has a portfolio that complements our existing business, capabilities and long-term vision.'"
"The transaction is expected to close by mid-2027, pending both shareholder and regulatory approval. The deal excludes Unilever's food business in India, Nepal and Portugal."
McCormick is merging with Unilever's foods division, retaining its name and leadership. Unilever will own 65% of the combined company, valued at $29.1 billion, and receive $15.7 billion in cash. McCormick shareholders will hold 35%. The merger aims to streamline Unilever's focus on beauty products. The combined revenue is projected to reach $20 billion by 2025. The deal is expected to close by mid-2027, pending approvals, and excludes Unilever's food business in India, Nepal, and Portugal.
Read at Los Angeles Times
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