HUNT VALLEY, MD — McCormick & Company, the Baltimore County-based spice and flavorings giant, announced March 31, 2026, an agreement to combine with Unilever’s Foods business, creating a global flavor-focused company with approximately 20 billion dollars in combined fiscal year 2025 revenue.
The transaction unites McCormick’s portfolio of herbs, spices and seasonings, including iconic brands such as Old Bay, Lawry’s, French’s mustard and Frank’s RedHot, with Unilever Foods offerings that include Knorr and Hellmann’s. Those two Unilever brands account for roughly 70 percent of the foods division sales. The combined entity will operate under the McCormick name and retain McCormick’s leadership team.
McCormick Chairman, President and Chief Executive Officer Brendan Foley will continue as chairman, president and CEO of the new company. Upon closing, Unilever and its shareholders will own 65 percent of the combined company’s outstanding equity, valued at 29.1 billion dollars based on McCormick’s recent share price. Unilever will also receive 15.7 billion dollars in cash. McCormick shareholders will hold the remaining 35 percent.
The deal excludes Unilever’s food businesses in India, Nepal and Portugal. It is expected to close by mid-2027, subject to approval by McCormick shareholders, regulatory authorities and other customary conditions.
Foley highlighted the strategic fit. “Unilever Foods’ global portfolio of strong brands, combined with our proven expertise in insight-driven brand-building and integration, will enable us to deliver flavor in new and exciting ways for more consumers, driving significant growth across the combined portfolio and value for all stakeholders,” he said.
He added that spices and flavors have shown resilience across demographics. “Flavor is fully aligned with today’s health and wellness priorities, as consumers increasingly focus on cooking at home, adding more protein and produce and pursuing healthier lifestyles.”
McCormick has expanded its presence in global flavors and sauces in recent years. In 2017 it acquired Reckitt Benckiser’s food division, gaining French’s and Frank’s RedHot. In 2020 it purchased the Mexican hot sauce brand Cholula. The company reported 2 percent net sales growth last year.
Unilever has shifted focus toward beauty and wellness categories in recent years, viewing greater growth potential there. The combination allows Unilever to become a pure-play home and personal care business while partnering its foods assets with McCormick’s expertise.
The new company will span herbs, spices, seasonings, cooking aids, condiments and sauces, serving consumers worldwide. Officials project annual cost synergies of several hundred million dollars once integrated.
In Southern Maryland, where McCormick products including Old Bay seasoning hold strong local loyalty among seafood enthusiasts and home cooks, the merger could influence availability and innovation in flavor lines popular in the region. Residents in St. Mary’s, Calvert and Charles counties frequently use these brands for crab feasts, seafood boils and everyday cooking, tying the deal to longstanding Chesapeake Bay culinary traditions.
The announcement comes as consumer interest in bold, global flavors and home cooking continues to grow. Foley emphasized that the combined business will focus on “flavoring calories while others compete for them,” positioning it to benefit from trends in protein-rich and vegetable-forward meals.
McCormick, founded 137 years ago, maintains its headquarters in Hunt Valley, Maryland. The company’s red-capped spice containers are a familiar sight in grocery aisles across Southern Maryland and beyond.
Both companies described the partnership as culturally aligned, with complementary strengths in brand building and global reach. The transaction ranks among the largest in the food sector in recent history when including enterprise value.
Southern Maryland businesses in food service, retail and agriculture may monitor the merger for potential impacts on supply chains, pricing or new product development involving local staples such as seafood seasonings.
The deal reflects broader industry consolidation as major players seek scale in competitive consumer packaged goods markets.
