Unilever and McCormick & Company confirmed on March 20, 2026, that they are in discussions over a potential strategic transaction involving Unilever’s Foods business, after Unilever said it had received an inbound offer. The companies did not announce a deal, and both said there is no certainty that any transaction will be agreed.
Key Insights
- Unilever said it received an inbound offer for its Foods business and is in discussions with McCormick.
- McCormick confirmed it is engaged in discussions about a potential transaction involving Unilever’s Foods business.
- Both companies said there is no certainty over whether a transaction will be completed, or what the terms and timing would be.
- Unilever’s Foods business includes Scratch Cooking Aids, Dressings and Functional Nutrition, and had combined turnover of €12.9 billion in 2025.
- McCormick said it has approximately $7 billion in annual sales and operates across 150 countries and territories.
- Unilever’s Foods brands include Hellmann’s and Knorr, while McCormick’s portfolio includes brands such as McCormick, French’s, Frank’s RedHot and Cholula.
Unilever Confirms Inbound Offer
Unilever said in a press release that it had received an inbound offer for its Foods business and was in discussions with McCormick & Company, Inc. The company said the Foods business is “highly attractive,” but added that there can be no certainty any transaction will be agreed.
The statement came after media reports circulated about possible talks between the two consumer goods companies. Unilever’s release did not disclose any transaction structure, valuation, timetable or other terms.
McCormick Says Discussions Are Ongoing
McCormick confirmed the talks in its own statement, saying it is engaged in discussions with Unilever regarding a potential strategic transaction involving Unilever’s Foods business. The company also said there can be no certainty or assurance that an agreement will be reached, or that the timing and terms of any transaction will be determined.
McCormick added that it regularly evaluates its portfolio and strategic options in pursuit of maximizing shareholder value, consistent with its fiduciary duties and in consultation with its financial and legal advisers. The company said it did not intend to make additional comments unless further disclosure became appropriate or necessary.
What Is in Unilever’s Foods Business
According to Unilever’s investor materials, the Foods business consists of Scratch Cooking Aids, Dressings and Functional Nutrition. Unilever said the business had combined turnover of €12.9 billion in the 2025 financial year.
Unilever’s website lists Hellmann’s and Knorr among the best-known brands in Foods. Its 2025 full-year results also said Foods posted 2.5% underlying sales growth for the year, driven by emerging markets, while developed-market growth was flat.
The company’s 2025 results presentation said Hellmann’s continued to perform well and described Foods as one of Unilever’s four business groups, alongside Beauty & Wellbeing, Personal Care and Home Care. Unilever also said its 2025 comparative figures were re-presented to reflect the demerger of its Ice Cream business group.
McCormick’s Business Profile
McCormick describes itself as a global leader in flavor with approximately $7 billion in total sales across around 150 countries and territories. The company says it operates in two segments: Consumer and Flavor Solutions.
In its statement on the Unilever talks, McCormick identified brands including McCormick, French’s, Frank’s RedHot, Stubb’s, OLD BAY, Lawry’s, Zatarain’s, Ducros, Vahiné, Cholula, Schwartz, Kamis, DaQiao, Club House, Aeroplane, Gourmet Garden, FONA and Giotti. The company said these brands and its broader portfolio position it across the food and beverage industry.
Reuters reported that the possible deal would combine Unilever’s Hellmann’s and Knorr brands with McCormick’s Cholula hot sauce, but neither company has announced any transaction. Reuters also said the talks remain at an early stage.
Concluding Statement
Unilever and McCormick have only confirmed that discussions are under way over a potential transaction involving Unilever’s Foods business. No deal has been announced, and both companies have said there is no certainty that any agreement will be reached.
