McCormick and Unilever Foods to merge, creating a $20B global flavor leader with $600M annual cost synergies.

McCormick & Company and Unilever have agreed to combine McCormick with Unilever's Foods business (excluding India and some other units), forming a global flavor leader with about $20 billion in combined 2025 revenue. The deal values Unilever Foods at approximately $44.8 billion and is expected to bring $600 million in annual cost synergies within three years, boosting growth and margins. Unilever shareholders will own 55.1% of the new company, McCormick shareholders 35%, and Unilever 9.9%. The combined firm will maintain McCormick's name and headquarters, with leadership from both companies, and aims to accelerate growth in flavor categories globally. The transaction is expected to close by mid-2027, pending approvals.