McCormick and Unilever merge to form $20B global flavor company, boosting growth and innovation.

McCormick and Unilever have agreed to merge McCormick with Unilever’s Foods business (excluding some regions and segments) to create a $20 billion flavor-focused company by 2025 revenue. Unilever shareholders will own 55.1% and McCormick shareholders 35% of the combined entity, which aims to expand global reach and innovation in herbs, spices, and condiments. The deal expects $600 million in annual cost synergies within three years and targets 3-5% growth by year three. The transaction is set to close by mid-2027, pending approvals, with McCormick retaining its name and CEO.