Core focus will be on beauty, personal care and home products after spinning off brands such as Hellmann’s and Pot Noodle into $60bn entity
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Unilever is in advanced talks to combine its food business with US-based McCormick, in a deal including $15.7bn (£11.9bn) cash that would give the Marmite-to-Hellmann’s mayonnaise owner majority control of a $60bn food empire.
London-listed Unilever will control 65% of the new spin-off, which will combine brands such as Knorr and Pot Noodle with McCormick’s condiments and spices including French’s mustard, Old Bay seasoning and Cholula hot sauce.
The remainder of the Anglo-Dutch consumer goods conglomerate – which last year hived off its ice-cream division, the home of Ben & Jerry’s, Magnum and Wall’s – would focus on beauty, personal care and home products.
