Unilever has confirmed that it will combine its Unilever Foods business with McCormick & Company to create a global food supplier.
The combined business will be home to brands such as McCormick, Knorr and Hellmann’s, as well as Cholula, Maille and Frank’s. According to Unilever, the global portfolio of brands had achieved revenues of $20 billion, based on fiscal year 2025 data.
Upon closing, the transaction will create a global flavour business across the retail and foodservice channels, with a portfolio spanning herbs, spices, seasonings, cooking aids, sauces and condiments.
Unilever highlighted that McCormick provides a “natural home” for Unilever Foods, and current McCormick CEO Brendan Foley will lead the combined company alongside McCormick’s CFO. Unilever Foods will provide senior management representation.
McCormick will retain its existing name, its US global headquarters and NYSE listing, and will establish international headquarters in the Netherlands. A secondary listing is planned in Europe.
Completion of the transaction is expected by mid-2027, subject to McCormick shareholder approval. At closing, Unilever shareholders will own 55.1%, McCormick shareholders will own 35% and Unilever will own 9.9% of the fully diluted combined company’s equity.
Fernando Fernandez, chief executive officer of Unilever, commented: “For Unilever, this transaction is another decisive step in sharpening our portfolio and accelerating our strategy towards high-growth categories as a €39 billion pureplay HPC company with a proven sector-leading growth profile.
“We are unlocking trapped value through a growth-led separation of Foods, creating a scaled, global flavour powerhouse. By combining Unilever Foods’ iconic leading brands and global reach with McCormick’s exceptional portfolio, category expertise and capabilities, we are establishing a focused, high-quality business with significant top line growth and value creation potential.
“This is a combination built on strong strategic and cultural alignment, providing exciting opportunities for our people and ensuring our Foods brands continue to thrive as part of a global flavour leader. Our retained ownership stake reflects our conviction in the strength of the combined company and its future prospects.”
“Unilever Foods’ global portfolio of strong brands… will enable us to deliver flavour in new and exciting ways for more consumers.”
Brendan Foley, CEO of McCormick, said: “This transformative combination accelerates McCormick’s strategy and reinforces our continued focus on flavour. The Unilever Foods business is one we have long admired, with a portfolio that complements our existing business, capabilities and long-term vision. Together, we will be better positioned to accelerate growth in attractive categories. This combination will create a diversified flavour leader with a robust growth profile that remains differentiated by its focus on flavouring calories while others compete for them.
“Unilever Foods’ global portfolio of strong brands, combined with our proven expertise in insight-driven brand-building and integration, will enable us to deliver flavour in new and exciting ways for more consumers, driving significant growth across the combined portfolio and value for all stakeholders.
“Integrating two global organisations of this scale requires disciplined execution, and we are confident that our detailed integration roadmap, experienced teams from McCormick and Unilever, external advisors and our strong partnership will enable us to capture the full value of this opportunity. McCormick is the right partner for Unilever Foods’ brands and employees, and our shared culture and values will empower our combination. We are excited to welcome their exceptional talent and international expertise to our Power of People culture.”
