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Unilever has entered discussions with McCormick and Company following an unsolicited offer for its foods business, the company confirmed on Friday.
The London-based consumer goods group issued the statement following recent media speculation regarding a potential transaction. The foods division includes global brands such as Knorr, Hellmann’s, and Colman’s, alongside a portfolio of local labels.
Board members described the division as a highly attractive business with a strong financial profile. The unit operates across more than 190 countries and remains a significant contributor to the group’s annual turnover.
Company officials stated they remain confident in the future of the foods business as part of the wider group. However, the board opted to engage with the Maryland-based spice and flavouring manufacturer after receiving the inbound proposal.
McCormick, which already owns brands such as Schwartz and Frank’s RedHot, has not disclosed the valuation of the offer. Unilever directors noted that there is no certainty that any transaction will be agreed.
The division currently holds market-leading positions in several growing categories. Unilever reported that its brands are used by 3.4billion people every day, with the foods segment focusing heavily on sustainable sourcing and nutritional standards.
A spokesperson for the company said: “Unilever notes recent media speculation regarding a potential transaction involving its foods business. Unilever confirms that it has received an inbound offer for its foods business and is in discussions with McCormick and Company. There can be no certainty that any transaction will be agreed.”
