Unilever Merges Food Business with McCormick for 44.8 Billion
Unilever agreed to merge its food unit with McCormick in a deal valued at 44.8 billion dollars. The company plans to retain a 9 percent stake for one year.
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Unilever PLC has agreed to separate its food unit and merge it with the United States-based spice manufacturer McCormick & Company, Incorporated in a deal valued at approximately $44.8 billion. The transaction, involving both cash and stock, marks the conclusion of a century-long era for the United Kingdom-headquartered firm. While the company will initially retain a 9% stake in the combined business, it plans to divest this holding one year after the deal closes.
