McCormick to Buy Unilever Foods in $45 Billion Deal Expanding Condiments Reach

McCormick will acquire Unilever’s Foods unit, including Hellmann’s mayo and Marmite, in a roughly $45 billion transaction funded with cash and equity. Unilever shareholders will own about 55.1% of the combined company, while Unilever itself will hold a 9.9% stake. The deal expands McCormick’s portfolio into spreads and condiments and adds Knorr products; Unilever will focus on faster-growing personal care and will exclude India's foods unit. The merger is expected to close by mid-2027 after regulatory and shareholder approvals, with McCormick keeping its Hunt Valley, MD HQ and adding a European HQ in the Netherlands, plus a secondary European listing. Shares fell on the news.