McCormick agrees to acquire Unilever Foods; Unilever shareholders to own ~55% of combined company

MCCORMICK & CO INC

Transaction structured as Reverse Morris Trust: Unilever spins off Foods business into SpinCo, then merges into McCormick.
Unilever shareholders to own approx 55.1%, McCormick shareholders 35%, DutchCo 9.9% of McCormick common stock.
McCormick obtained $15.7B bridge loan commitment from Citi, Goldman Sachs, Morgan Stanley to finance cash portion.
McCormick will divest up to $1.4B in sales to secure antitrust clearance; $420M termination fee if deal fails.
Board will expand to 12 members, with 4 designees from Unilever; closing expected within 12 months of signing.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

MCCORMICK & CO INC entered into Separation and Distribution Agreement with Unilever PLC valued at Part of overall merger agreement (effective 2026-03-31).

Action: entry
Agreement: supply
Counterparty: Unilever PLC
Value: Part of overall merger agreement
Effective: 2026-03-31

Exact text from the filing

(2) a Separation and Distribution Agreement (the “Separation and Distribution Agreement”), dated as of March 31, 2026, by and among Unilever, DutchCo, SpinCo and McCormick

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

MCCORMICK & CO INC entered into Agreement and Plan of Merger with Unilever PLC valued at Merger of SpinCo into McCormick; total transaction value approximately $15.7 billion; consideration (effective 2026-03-31).

Action: entry
Agreement: merger
Counterparty: Unilever PLC
Value: Merger of SpinCo into McCormick; total transaction value approximately $15.7 billion; consideration
Effective: 2026-03-31

Exact text from the filing

The definitive agreements entered into in connection with the Transactions include (1) an Agreement and Plan of Merger (the “Merger Agreement”), dated as of March 31, 2026, by and among Unilever, DutchCo, SpinCo, McCormick, Merger Sub I and Merger Sub II

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

MCCORMICK & CO INC entered into Employee Matters Agreement with Unilever PLC valued at Part of overall merger agreement (effective 2026-03-31).

Action: entry
Counterparty: Unilever PLC
Value: Part of overall merger agreement
Effective: 2026-03-31

Exact text from the filing

(3) an Employee Matters Agreement, dated as of March 31, 2026 (the “Employee Matters Agreement”), by and among Unilever, SpinCo, DutchCo and McCormick

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273 material agreements filed in the last 30 days. Browse all material agreements →

MCCORMICK & CO INC filing history →

Source: SEC EDGAR

accession 0001999371-26-007671

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