Unilever in Talks to Sell €29 Billion Food Unit to McCormick
Unilever is in talks to sell its €29 billion ($33 billion) food unit to McCormick & Co., ending its century-old food operations. The deal would support CEO Fernando Fernandez’s strategy to shift two-thirds of revenue into beauty and personal care brands.
1. Sale Talks Underway
Unilever has received an offer from McCormick & Co. to buy its food business, valued at up to €29 billion ($33 billion), though no final agreement has been reached.
2. Strategic Refocus
CEO Fernando Fernandez plans to increase the share of beauty and personal care brands to two-thirds of turnover, reducing emphasis on food operations.
3. Market Reaction
Shares of Unilever rose as much as 1.9% in early trading, countering a 6% decline over the past 12 months.
4. Industry Trends
High inflation and shifting consumer preferences toward healthier, fresher options have made personal care segments more attractive than traditional food businesses.