Unilever sold its food business to McCormick, ending its food industry run. Founded in 1930, it's a UK giant in consumer goods.
Unilever plans to merge its food division with McCormick in a $15.7 billion cash and equity deal, creating a global flavor powerhouse. The transaction, expected to close by mid-2027, will see Unilever's shareholders owning 55% of the new entity, marking a significant shift in its strategic focus.