Hellmann’s mayo is worth big bucks.
McCormick is paying $15.7 billion in cash for the Unilever Foods’ portfolio of brands, which includes the mayo condiment as well as Marmite.
Unilever shareholders will own 55.1% of the combined company, while Unilever will hold a 9.9% stake, CNBC reported.
McCormick is primarily a spice company, and this acquisition adds condiments to its product portfolio. It also owns Frank’s RedHot and Cholula hot sauces, as well as French’s mustard and mayo. About 70% of Unilever Foods’ sales come from Hellmann’s and Knorr.
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The deal could close in mid-2027, pending shareholder and regulatory approval.
