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McCormick Today
By the People, for the People
McCormick Acquires Unilever's Food Division in $60B Deal
The combined company will maintain McCormick's name and leadership.
Mar. 31, 2026 at 5:54pm
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The merger of McCormick and Unilever's food division creates a new powerhouse in the spice, seasoning, and condiment markets.McCormick TodaySpice and flavorings company McCormick announced on Tuesday that it's combining with Unilever's foods division, which includes household names like Hellmann's, Knorr, and Marmite. The combined company will be valued at around $60 billion.
Why it matters
This deal will create a food industry giant, combining two major players in the spice, seasoning, and condiment markets. It reflects Unilever's strategy to focus more on its beauty and personal care businesses, while McCormick sees an opportunity to expand its global reach and product portfolio.
The details
Under the terms of the agreement, Unilever shareholders will own 55.1% of the combined company, as well as 9.9% in outstanding equity, while McCormick shareholders will own 35%. The new company will maintain McCormick's name and leadership. Unilever had been looking to streamline its business and focus on its beauty and personal care divisions, having spun off its ice cream portfolio late last year.
- McCormick and Unilever announced the deal on March 31, 2026.
- The deal is expected to close in the coming months.
The players
McCormick
A leading spice and flavorings company that is headquartered in South Carolina.
Unilever
A multinational consumer goods company that owns popular food brands like Hellmann's, Knorr, and Marmite.
What’s next
The deal is expected to close in the coming months, pending regulatory approvals.
The takeaway
This acquisition reflects the ongoing consolidation in the food industry, as companies look to expand their product portfolios and global reach. It also highlights Unilever's strategic shift towards its higher-margin beauty and personal care businesses.
