Beauty Industry

Unilever Nears Deal to Sell Food Division to Focus on Beauty

In merging its food division with McCormick, Unilever can focus on its Beauty Business.

March 31, 2026

Assistant Editor

Unilever is in advanced talks to merge its food business with spice maker McCormick. This potential deal could create a $60 billion company.

If a transaction were to proceed, it would involve a combination of Unilever Foods (excluding parts of its Foods portfolio such as its business in India) with McCormick.

According to Unilever, as of now, the deal will include an upfront cash component of approximately $15.7 billion and the majority of the consideration in McCormick equity.

Upon completion of the transaction, it is expected that Unilever and its shareholders will hold 65% of the combined company.

Unilever commented that the transaction would be undertaken by a Reverse Morris Trust, which is intended to be tax-free for US federal income tax to Unilever and its shareholders.

More details will be announced if the transaction is approved.

Despite Unilever’s Food business being a strong portfolio, its Beauty & Personal Care division has led its financial resultsin recent times.