Unilever Explores Foods Division Sale to McCormick, Shares Gain 1.2%
Unilever has confirmed discussions with McCormick & Co. on a potential sale or merger of its foods division following its ice cream spin-off. The announcement lifted shares 1.2% to £46.27 and underscores Unilever’s pivot toward beauty and wellness, now 51% of sales and valued at €13.2 billion.
1. Talks with McCormick & Co.
Unilever confirmed it has received an inbound offer and is in negotiations with McCormick & Co. regarding a potential sale, merger or spin-off of its foods division, although no agreement is guaranteed.
2. Share Price Reaction
The announcement drove Unilever’s share price up 1.2% to £46.27 in late morning trading, reflecting investor optimism around reducing exposure to the foods segment.
3. Strategic Refocus on Beauty & Wellness
CEO Fernando Fernandez is prioritizing beauty and personal care, which currently accounts for 51% of sales and is targeted to reach two-thirds of sales in the medium term.
4. Foods Division Overview
The foods unit is led by brands like Hellmann’s, Marmite and Knorr, and has a strong financial profile in growing categories such as spices and seasonings.