McCormick (MKC) to combine with Unilever's (ULVR LN) Foods Business

McCormick's merger with Unilever's Foods Business marks a significant consolidation in the packaged foods sector.

Newsquawk StaffPublished 31 Mar 2026, 12:16 UTCOn the live feed at 11:56 UTC — 11 more headlines followed before this page went public

Newsquawk headlinesUTC

11:59

Iran reportedly warns UAE that Fujairah port and key Hormuz oil pipeline could be targeted if attacks continue - UNCONFIRMED

11:59

Lufthansa (LHA GY) is reportedly considering grounding around 20 craft on a temporary basis due to elevated fuel costs from the Middle East conflict, Handelsblatt reports citing the CEO

11:56

McCormick (MKC) to combine with Unilever's (ULVR LN) Foods Business

11:55

Next week, the Israeli Air Force is expected to attack economic targets and military industries in Iran, Al Hadath reports citing Yisrael Hayom

11:52

US-Israel airstrikes hit Iran's Qeshm island in the Strait of Hormuz

Open the platform and use it. The whole workspace is free to try, with no signup and no card. When you want the headlines arriving live instead of on a delay, Newsquawk Pro is £24.99 for 7 days.

Try the platform free

Free. No signup, no card.

Under the terms of the agreement and upon closing of the transaction, Unilever and its shareholders are expected to receive shares equating to 65.0% of the fully diluted combined-company outstanding equity, equivalent to USD 29.1bln based on McCormick's one-month volume-weighted average price of USD 57.84.
Unilever will also receive USD 15.7bln in cash, subject to certain closing adjustments. This implies an Enterprise Value for Unilever Foods of ~USD 44.8bln, or approximately 13.8x fiscal year 2025 EBITDA. In addition, this reflects an enterprise value for McCormick of ~USD 21.0bln, or approximately 13.8x fiscal year 2025 EBITDA.6
Expected to be Accretive to McCormick's Net Sales Growth Rate, Operating Margin and Adjusted EPS in First Full Year.
Expected Annual Run-Rate Cost Synergies of USD 600mln Net of Reinvestments; Expect to Achieve by Year 3, with Approximately Two-Thirds by Year 2

Context

This transaction, which values Unilever's Foods at about $44.8 billion, is expected to create substantial synergies and enhance McCormick's growth metrics across sales and margins, suggesting a potentially bullish outlook for both entities and the sector as a whole.

Equities · last 90 days

Recent headlines that moved markets

EQUITIES/8 Sept · 05:24 UTC

Saudi Energy Minister says a number of energy facilities and utilities were hit; are temporarily halting some operations.

Equity indices, after we published−0.3%

Modest downside seen across equity futures as energy prices tick higher.

EQUITIES/3 Sept · 04:54 UTC

North Korea stripped references to "peaceful unification" with South Korea from the charter of its ruling Workers' Party of Korea, according to Yonhap.

Equity indices, after we published−3.3%

EQUITIES/1 Sept · 16:17 UTC

Initial reports of an American attack on Iran, reports i24's Stein.

ES, after we published−0.2%

EQUITIES/26 Aug · 12:56 UTC

States and Meta (META) and agree to settle claims that platforms harmed children, according to a court filing; Meta agrees to pay a maximum of USD 16.68bln to states as part of deal

Market, after we published+2.6%

EQUITIES/8 Sept · 11:48 UTC

AstraZeneca (AZN LN) says Phase III tozorakimab data in COPD showed a 29%-34% reduction in exacerbations.

Market, after we published+1.0%

EQUITIES/7 Sept · 10:54 UTC

Saudi Aramco Jizan oil facilities were reportedly hit in new strikes, the FT reports citing sources; hit on Monday, damage is being assessed.

Equity indices, after we published−0.1%

Newsquawk Daily

Get both market opens in your inbox.

This note and the other one — the EU open and the US open, every business day, written by the desk. No account needed.

Related headlines

The whole workspace, free to try.

© 2026 Newsquawk. All rights reserved.