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McCormick Submits Bid for What Would Be Its Biggest-Ever Deal
- London-Based Unilever confirmed it has received an inbound offer and is in discussions with Maryland-based McCormick regarding its Foods division, which produces Marmite, Hellmann's mayonnaise, Colman's mustard and Knorr.
- Reports earlier this week indicated Unilever was considering demerging its food division to refocus on beauty and personal care, following the Wall Street Journal's report that it could combine its foods business with McCormick's Schwartz spices and French's mustard.
- A deal would unite Unilever, valued at more than $134bn, with McCormick, worth around $14.51bn, creating a powerhouse spanning condiments, seasonings and sauces including Hellmann's mayonnaise and Cholula hot sauce.
- Unilever's Board stressed the Foods division is a "highly attractive business, with a strong financial profile led by market-leading brands," though the company cautioned "there can be no certainty that any transaction will be agreed."
- Last year, Unilever spun off its ice cream business to create Magnum Ice Cream Company and has sold brands like Graze and The Vegetarian Butcher while acquiring personal care brands Wild and Dr Squatch, establishing a pattern of strategic restructuring.
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The British consumer goods giant Unilever thinks about a billion-dollar sale. This would also affect the German traditional brand Knorr.
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Both companies stressed that there is no doubt that any agreement will be concrete
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Coverage Details
Total News Sources49
Leaning Left6Leaning Right6Center7Last UpdatedBias Distribution37% Center
Bias Distribution
- 37% of the sources are Center
37% Center
L 32%
C 37%
R 31%
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