The merger will bring together two industry-leading and culturally-aligned foods businesses with strong momentum, superior top line growth and enhanced value creation.
The combined business will house leading, iconic brands including McCormick, Knorr and Hellmann’s as well as high growth potential brands including Cholula, Maille and Frank’s, as part of a global portfolio with revenues of $20 billion (£15Bn), based on fiscal year 2025 data.
Fernando Fernandez, chief executive of Unilever, commented: “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.”
The combined company will be led by the McCormick chief executive and chief financial officer, with senior management representation from Unilever Foods.
Brendan Foley, chief executive of McCormick, added: "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.”