Consumer goods conglomerate Unilever has confirmed that it is in talks with McCormick and Company over the sale of its foods business.
Responding to speculation, Unilever acknowledged the news but gave no guarantees of a transaction being completed.
“The board believes Foods is a highly attractive business, with a strong financial profile led by market-leading brands in growing categories and is confident in the future of the Foods business as part of Unilever,” a company spokesperson said.
Unilever’s Foods business accounts for roughly one quarter of the company’s annual sales. Including brands such as Hellmann’s, Colman’s, and Knorr, the wide-ranging portfolio would likely be McCormick’s most expensive acquisition in its 137-year history.
In its 2025 full year financial results, Unilever’s newly appointed CEO, Fernando Fernandez, set out the company’s aims.
“We have set clear priorities for growth – building a brand portfolio for the future, with more,” Fernandez said. “Beauty, wellbeing and personal care, prioritising premium segments and digital commerce, and anchoring our growth in the US and India.”
Bloomberg valued the Foods business at an estimated US$33 billion. McCormick’s market cap is US$14.5 billion.
