McCormick Merges With Unilever Food Brands in $45B Deal, Creating Flavor Giant

McCormick & Company and Unilever reached a definitive agreement to merge Unilever’s food division with McCormick. The transaction values the combined business at approximately $44.8 billion. Unilever will receive $15.7 billion in cash as part of the deal. Unilever and its shareholders will own 65% of the new entity. McCormick shareholders will retain the remaining 35% stake.

The merger unites major brands including McCormick spices, French’s, Frank’s RedHot, Hellmann’s, and Knorr. The combined company expects to generate annual revenues of around $20 billion. McCormick anticipates realizing $600 million in annual cost synergies.

Unilever is executing a strategic pivot to focus on beauty and personal care segments. McCormick intends to use the merger to expand its global footprint and scale. The companies expect the transaction to close by mid-2027. Final approval depends on shareholder and regulatory reviews.