Unilever’s food business will be sold to McCormick for $45 billion in an all-share deal that allocates a 65% stake in the new $20 billion-sales entity to Unilever shareholders. The transaction is expected to close by mid-2027 and deliver $600 million in annual cost synergies through combined operations and procurement.

The newly formed food unit will begin with roughly $20 billion in annual revenues and forecasts 3–5% sales growth three years after closing, driven by expansion into Asia-Pacific and EMEA markets. Unilever’s established distribution networks will complement McCormick’s brands, creating revenue and margin upside across diversified geographies.

CEO Fernando Fernandez, who previously scaled TRESemmé into a leading hair-care brand in Brazil, is steering Unilever toward a concentrated health and beauty portfolio. The strategy prioritizes high-growth categories, margin enhancement and leveraging core brand strengths to drive long-term shareholder value.