McCormick CEO on Unilever food deal: We're here to compete on flavor [Yahoo! Finance]
Unilever PLC American Depositary Shares (each representing One Ordinary Share) (UL)
US:NYSE Investor Relations:
unilever.com/investor-relations
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Source: Yahoo! Finance
"We're not in the business of competing for calories, we're there to flavor them," Foley said on Yahoo Finance (video above). "We really think this combination is terrific on many levels. We have to go execute now." Foley is trying to orchestrate one of the spiciest deals Big Food has seen in a while. McCormick and Unilever announced last week that they have entered into an agreement to combine their food businesses, excluding those in India. The deal values the combined company at about $65.8 billion and includes brands like Knorr and Hellmann's. Deal details Foley will lead the combined company. McCormick has received $15.7 billion in committed bridge financing from Citigroup Global Markets, Goldman Sachs Bank USA, and Morgan Stanley Senior Funding. McCormick intends to fund the deal's cash component through cash from its balance sheet and proceeds from new debt issuance. The combined company expects to realize approximately $600 million in run-rate annual cost savings,
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News
- Unilever (UL) was upgraded by DZ Bank AG from "hold" to "strong-buy".MarketBeat
- McCormick CEO on Unilever food deal: We're here to compete on flavor [Yahoo! Finance Canada]Yahoo! Finance Canada
- McCormick CEO on Unilever Food merger: We're focused on 'flavor' [Yahoo! Finance]Yahoo! Finance
- McCormick CEO on Unilever Food merger: We're focused on 'flavor' [Yahoo! Finance Canada]Yahoo! Finance Canada
- Unilever Pushes Further Into Well-being, Buying Greens Supplement Brand Grüns [Yahoo! Finance]Yahoo! Finance
UL
Sec Filings
- 4/10/26 - Form 425
- 4/10/26 - Form 425
- 4/9/26 - Form 425
- UL's page on the SEC website