Spice maker McCormick to combine with Hellmann’s maker Unilever in latest food industry shakeup

WTOP • March 31, 2026 • general

Key Points:

Unilever is merging its food business with McCormick, with Unilever shareholders expected to own 65% of the combined company and McCormick shareholders 35%, creating a $20 billion revenue business by fiscal year 2025.
The merger aims to leverage Unilever’s strong presence in Latin America and Asia and McCormick’s established profile in North America, while expanding their footprint in the food service sector.
The companies anticipate $600 million in annual cost savings and expect the deal to close by mid-2027, pending shareholder and regulatory approval, excluding Unilever’s food operations in India, Nepal, and Portugal.
Unilever has been shifting focus from food to beauty and wellness categories, recently spinning off its ice cream business and selling plant-based and healthy snacking brands, as its food sales declined 3% last year.
McCormick, known for spices and global flavors, has seen resilient growth with a 2% increase in net sales last year, benefiting from consumers’ interest in cooking at home and healthier lifestyles, despite investor concerns over the merger’s complexity.

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