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AgenciesUnilever Ltd.
FMCG major Unilever said on Friday it was in talks with U.S.-based McCormick & Company about disinvestment of its foods business, which includes renowned brands such as Hellmann's mayonnaise and Knorr soups and seasonings.
The company confirmed that it has received an inbound offer for the business. However, there can be no certainty that a deal will be agreed, the two companies said in separate statements.
If the divestment agreement comes in place, Unilever's popular brands like Coleman and Marmite will come under the same roof with Maryland-based McCormick's iconic Cholula hot sauce.
The business talks come months after the giant conglomerate spun-off its ice cream brand Magnum Ice Cream Company as it shifts focus towards higher-return personal and beauty categories.
Unilever's food business contributed about a quarter of its total sales in FY25 at over 12.9 billion euros ($14.91 billion), while its personal care and beauty businesses accounted for over half of it.
Hindustan Unilever Ltd. on Friday issued a clarification saying HUL is not in any discussions regarding divestment of the foods portfolio.
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The company confirmed that it has received an inbound offer for the business. However, there can be no certainty that a deal will be agreed, the two companies said in separate statements.
If the divestment agreement comes in place, Unilever's popular brands like Coleman and Marmite will come under the same roof with Maryland-based McCormick's iconic Cholula hot sauce.
The business talks come months after the giant conglomerate spun-off its ice cream brand Magnum Ice Cream Company as it shifts focus towards higher-return personal and beauty categories.
Unilever's food business contributed about a quarter of its total sales in FY25 at over 12.9 billion euros ($14.91 billion), while its personal care and beauty businesses accounted for over half of it.
Hindustan Unilever Ltd. on Friday issued a clarification saying HUL is not in any discussions regarding divestment of the foods portfolio.
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