McCormick Buys Unilevers Food Arm in $44.8 Billion Deal

The logo of Unilever at the headquarters in Rotterdam, Netherlands, on Aug. 21, 2018. Piroschka van de Wouw/ReutersMcCormick will merge with Unilever’s food business to create a new food giant valued at about $65 billion, the companies said on March 31.Under the terms of the deal, McCormick will acquire Unilever Foods for $44.8 billion, with a mix of cash and equity. The transaction would combine Unilever’s stable of food brands, including Hellmann’s and Knorr, with McCormick’s roughly $20 billion business, whose portfolio includes French’s mustard, Old Bay seasoning, and Cholula hot sauce.