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Unilever Nears $60 Billion Food Merger With McCormick

Source: wsj.com

Unilever is close to a deal to merge its food business with McCormick to form a $60 billion food giant.
The transaction would value Unilever's ice cream and food unit at around $30 billion in a complex swap.
This move lets Unilever focus on beauty and hygiene while creating a major player in seasonings and packaged foods.

Unilever is finalizing a merger of its ice cream and foods division with McCormick, the world's largest spice company, to build a powerhouse in consumer food products. The companies have been negotiating for months amid pressure on Unilever to streamline its portfolio. The deal matters because it reshapes two consumer giants, potentially boosting efficiency in a tough market for packaged goods.