Unilever nears major foods merger with McCormick. The consumer goods giant is in advanced talks to combine its food division with spice maker McCormick in a potential reverse merger deal valued over 60 billion dollars. Unilever would receive 15.7 billion dollars in cash and retain 65 percent stake in the combined entity. The transaction, structured as a Reverse Morris Trust for tax efficiency, represents the biggest move yet under new CEO Fernando Fernandez. The foods unit, accounting for just over a quarter of Unilever's annual sales, has experienced slower growth compared to personal goods and beauty divisions. This strategic combination addresses years of investor pressure to streamline Unilever's portfolio and follows the ice cream business spin-off last year. The deal aligns with Unilever's cost-cutting program targeting 800 million euros in savings over three years.
