Unilever has announced an agreement to combine Unilever’s Foods business with McCormick, forming a global flavour-focused entity with combined revenues of approximately $20 billion based on fiscal year 2025 data.
The transaction will bring together established brands including Knorr, Hellmann’s and McCormick, alongside growth-oriented brands such as Cholula, Maille and Frank’s, under a single portfolio. The combined business is positioned to scale operations across key markets, leveraging complementary product portfolios, supply chains and distribution networks.
The move represents a strategic shift for Unilever, which will separate its Foods division and transition into a pure-play home and personal care (HPC) company. Post-transaction, Unilever is expected to operate across Beauty & Wellbeing, Personal Care and Home Care categories, with estimated revenues of €39 billion based on 2025 figures.
According to the companies, the combination aligns two businesses with similar operating models and category focus, with an emphasis on flavour, condiments and food solutions. The integration is expected to support portfolio consolidation, operational efficiencies and broader market reach, particularly in regions where both companies have established distribution.
The structure of the transaction includes both cash and equity components, with Unilever and its shareholders expected to retain a majority stake in the combined entity upon completion. The deal remains subject to final agreement and customary regulatory approvals.
If completed, the transaction will reshape both companies’ portfolios, concentrating McCormick’s position in global flavours while enabling Unilever to streamline its business towards higher-growth, non-food categories.