Unilever May Sell €12.9B Food Division to McCormick in Multi-Billion Deal
Unilever has received an offer from McCormick to acquire its food division, which generated €12.9 billion in 2025 revenue and €2.9 billion in operating profit from brands like Hellmann’s, Knorr and Marmite. The deal would accelerate Unilever’s shift toward higher-margin beauty and personal care segments while providing McCormick with global scale.
1. Inbound Offer for Food Division
Unilever confirmed it has received an inbound offer from McCormick for its food division and that discussions are ongoing, though there is no certainty a transaction will be agreed.
2. Financial Profile and Key Brands
The food unit generated €12.9 billion in revenue and €2.9 billion in operating profit in 2025, operating household names including Hellmann’s, Knorr and Marmite.
3. Unilever’s Strategic Pivot
A sale would cap years of portfolio restructuring that saw exits from spreads, reduced tea exposure and an ice cream spin-off, refocusing the company on faster-growing, higher-margin beauty and personal care.
4. McCormick’s Growth Opportunity
Acquiring the unit would give McCormick global scale in condiments and cooking products, access to Unilever’s emerging market network and would likely be structured with a mix of stock and cash.