Trending 
British consumer giant Unilever is reportedly on the verge of a multi-billion-dollar agreement to merge the majority of its food business with U.S.-based McCormick & Company.
The deal, which could be finalised as early as today, Tuesday, March 31, 2026, is valued at approximately $15.7 billion in cash and stock.
Under the proposed terms, the transaction would create a combined entity worth an estimated $60 billion, with Unilever shareholders retaining a 65% majority stake in the new venture.
The move marks a significant strategic pivot under Chief Executive Fernando Fernandez, who took leadership in 2025.
Unilever wants to focus more on areas with higher growth, like personal care, beauty, and health, by spinning off older food brands like Hellmann’s and Knorr.
This restructuring follows the company’s successful divestment of its global ice cream division last year and aligns with a broader effort to streamline operations and prioritise core brands like Dove and Cif.
While the merger would transform McCormick into a global condiment and seasoning powerhouse, the agreement is expected to exclude Unilever’s food operations in India, which remains a key growth market for the firm.
As the industry awaits official confirmation, the deal represents one of the largest portfolio resets in Unilever’s history, reflecting a clear shift toward a leaner, beauty-focused business model designed to drive long-term shareholder value.
