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FTI Consulting handles media for McCormick as the 137-year-old flavors company combines with Unilever Foods in a deal valued at $45B.
Knorr soup and Hellmann’s mayonnaise brands generate about 70 percent of Unilever Foods revenues. Marketing in 90 countries, Knorr serves more than 5B customers worldwide. Hellmann’s is sold in more than 65 countries.
McCormick’s herbs, spices, seasonings, condiments and flavors generate $7B in revenues from sales across 150 countries. Top brands are McCormick, French's, Frank’s RedHot, Cholula, Stubb's, OLD BAY and Lawry’s.
Brendan Foley, CEO of McCormick, said, the transaction will “create a diversified flavor leader with a robust growth profile that remains differentiated by its focus on flavoring calories while others compete for them.”
The combined company, which will have revenues in the $20B range, will maintain the McCormick name and keep its headquarters in Hunt Valley, MD, with Foley in charge.
McCormick shareholders will own a 35 percent stake in the enlarged entity, with Unilever investors controlling a 55.1 percent stake.
Following the 2027 closing of the deal, Unilver will focus on its beauty, personal-care and home products lines for growth.
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