McCormick will pay a combination of cash and equity to expand further into condiments and spreads.
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McCormick
will buy Unilever’s
food business for a combination of cash and equity, in a deal that values the Unilever unit at nearly $45 billion, the two food companies announced.
To buy most of Unilever Foods’ portfolio, including Hellmann’s mayo and U.K. favorite Marmite, McCormick will pay $15.7 billion in cash. Unilever shareholders will own 55.1% of the combined company, while Unilever will hold a 9.9% stake.
McCormick buys Unilever's food business for $45B - UPI.com
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