March 20 (UPI) -- Anglo-Dutch multinational consumer goods manufacturer Unilever moved Friday to end media speculation over the future of its food business, confirming that Maryland-headquartered McCormick & Co. Inc. had made an acquisition offer.
Unilever said in a news release that it was in discussions with McCormick after receiving "an inbound offer" from the American spices and seasonings firm but stressed "there can be no certainty that any transaction will be agreed."
"The Board believes Foods is a highly attractive business, with a strong financial profile led by market-leading brands in growing categories and is confident in the future of the Foods business as part of Unilever," the company added.
"Unilever sprung to life as talk about selling its food brands intensified. The market has been awash with rumours all week and hearsay has now switched to confirmation, with McCormick named as an interested suitor," said Russ Mould, investment director at AJ Bell.
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