Marmite maker Unilever in talks to merge food business with US-based McCormick
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Unilever, the Anglo-Dutch company owning brands like Marmite and Hellmann's, is in talks with US-based McCormick regarding a potential merger of Unilever's food business. The discussions involve a possible all-stock deal that would see Unilever's food unit, which includes brands like Knorr, combine with McCormick, owner of brands like French's mustard and Old Bay seasoning. Unilever is exploring this move as part of a strategic shift towards beauty, personal care, and home products, aiming to generate a larger portion of its revenue from these sectors. The potential deal follows Unilever's previous divestments of other food-related businesses, including its ice cream division and spreads business. If finalized, the merger would position Unilever to compete more directly with companies in the beauty and personal care industries.
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Key Claims (5)
AI-ExtractedFernando Fernández said the company was looking to shift away from food.
Unilever confirms that it has received an inbound offer for its foods business and is in discussions with McCormick & Company.
McCormick is valued at about $15bn (£11bn).
Unilever is in talks to combine its food business with McCormick.
Unilever's food unit could be worth tens of billions of pounds.
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