Unilever Has Finally Managed to Shave off Its Food Business [Yahoo! Finance]
Unilever PLC American Depositary Shares (each representing One Ordinary Share) (UL)
US:NYSE Investor Relations:
unilever.com/investor-relations
Company Research
Source: Yahoo! Finance
Unilever wants to spin off its food division and merge it with spice maker McCormick, creating a $60 billion flavor business. Unilever shareholders would keep majority ownership and walk away with $15–16 billion in cash. Everyone wins, in theory. WHAT HAPPENED Unilever is in talks to merge its food business, valued at $30–35 billion, with McCormick, roughly doubling the combined value to $60 billion with some debt layered in. The resulting portfolio would put Hellmann's, Knorr, and Marmite under the same roof as French's, Frank's RedHot, and Cholula. Unilever's Indian business stays out of the deal as the company has no interest in giving up that market share. The transaction would use something called a Reverse Morris Trust, a structure that lets a company spin off a division and merge it with another without triggering corporate tax on the sale. Had Unilever simply sold its food arm, it would have faced capital gains tax running into the billions. This way, it spins it off an
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News
- Unilever PLC (UL) Shareholder/Analyst Call Transcript [Seeking Alpha]Seeking Alpha
- McCormick set to buy Unilever Foods, adding Hellmann's, Knorr and more to portfolio [Yahoo! Finance]Yahoo! Finance
- Unilever Combines Food Business With McCormick in $44.8 Billion Deal [Yahoo! Finance]Yahoo! Finance
- In a $45 Billion Deal, McCormick Is Buying Unilever's Food Business. Is This a Good Strategic Move for the Spice Giant? [Yahoo! Finance]Yahoo! Finance
- A complicated exit: RBC wary of Unilever's food reshuffle [Yahoo! Finance]Yahoo! Finance
UL
Sec Filings
- 3/31/26 - Form 425
- 3/31/26 - Form 425
- 3/31/26 - Form 425
- UL's page on the SEC website