Unilever explores food business tie-up with McCormick: Report

Unilever ​is in talks to separate ​its food business and combine it ​with spice maker McCormick in an all-stock deal that could come within weeks, the Wall Street Journal reported on Thursday, citing sources.

A deal, ‌if it ⁠succeeds, could ⁠bring brands such as Unilever's Hellmann's mayonnaise and Maryland-based McCormick's iconic ​Cholula hot sauce under one roof.

Also Read: Unilever to sharpen India play with premium & q-comm push


Reuters could not immediately verify the ​report. The companies did not immediately respond to Reuters requests for comment.

Unilever has been weighing a broader separation of its food assets, several news outlets ⁠reported this ‌week, as the consumer goods maker plans to streamline its business.

Food companies have been struggling ⁠with weak demand as budget-conscious consumers cut back on ​spending and opt for cheaper store brands, while ​the rising adoption of weight-loss drugs has also curbed overall consumption.

Last year, Reuters reported that the Dove soap maker was considering selling British brands including Marmite, Colman's and Bovril to streamline Unilever's portfolio and focus ‌on beauty and wellbeing.

Also Read: Unilever's India business to be stronger in medium term: CEO Fernando Fernandez

McCormick, which in January forecast weak profit for 2026 due to higher tariff-related ​costs, has ​a market value ⁠of around $14.51 billion, while London-based Unilever is valued at more than $134 billion, according to LSEG-compiled data.

The Financial Times reported ​on Wednesday that Unilever and Kraft Heinz had recently held talks over a potential merger of parts of their food businesses, but those discussions have since ended.