London: Unilever on Friday confirmed it has received an inbound offer for its Foods business and is in discussions with McCormick & Company, responding to recent market speculation over the future of the division. The company, however, said there can be no certainty that any transaction will be agreed.
In a media announcement, Unilever said its Board continues to view Foods as “a highly attractive business” with a strong financial profile, supported by market-leading brands in growing categories, and added that it remains confident in the future of the business as part of Unilever.
The statement comes after reports that Unilever was weighing strategic options for its Foods arm, including a possible separation or combination with McCormick, in what could mark another major portfolio reshaping move by the consumer goods giant. Reuters reported that the Foods business, which includes brands such as Knorr and Hellmann’s, generated more than €12.9 billion in sales in 2025, accounting for over a quarter of Unilever’s group revenue.
The potential transaction is being watched closely as Unilever has been increasingly focused on higher-growth categories such as beauty, personal care and wellbeing. The company has already undertaken significant portfolio changes in recent years, and investor discussion around the Foods unit has intensified amid broader questions over how central the division remains to Unilever’s long-term strategy.
At the same time, the Foods business remains one of Unilever’s largest and more profitable divisions. Reuters reported that it is the group’s second-largest business and delivered an operating margin of 22.6%, above the company average, underlining why any move involving the asset would be strategically significant.
Neither Unilever nor McCormick disclosed financial terms of the offer. For now, Unilever’s statement appears aimed at balancing two messages to the market: that active discussions are underway, and that the company still sees strong standalone value in retaining the Foods business within the group.
