On March 31, 2026, McCormick & Company, Incorporated, a Maryland corporation, announced that it has entered into definitive agreements with Unilever PLC and its subsidiaries regarding a significant acquisition of Unilever's foods business. This strategic move is expected to enhance McCormick's market position and operational capabilities in the food sector. The transaction involves the transfer of Unilever Foods to a newly formed entity, SpinCo, with McCormick acquiring certain assets related to Unilever Foods in exchange for cash and intercompany notes. The total consideration for the transaction is estimated to be approximately $15.7 billion. Following the completion of the mergers, Unilever shareholders are projected to own about 55.1% of McCormick's common stock, while McCormick shareholders will retain approximately 35.0%. This acquisition is anticipated to qualify as a Reverse Morris Trust transaction, which is generally tax-free for Unilever's shareholders. The agreements also include provisions for a bridge financing commitment of up to $15.7 billion to fund the acquisition, indicating strong financial backing for the transaction. McCormick's leadership is optimistic about the potential synergies and growth opportunities that this acquisition will bring, positioning the company for future success in the competitive food industry.

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