Unilever and McCormick & Co. have decided to seek a buyer for the Colman's mustard brand, ahead of their planned $44.8 billion deal to combine most of Unilever's food business with McCormick. The decision to market Colman's was made to proactively address potential competition concerns from the combination, which will house Unilever brands like Knorr and Hellmann's alongside McCormick's Schwartz and French's. Under the deal, Unilever and its investors will receive a mix of McCormick stock, equating to 65% of the combined business, with Unilever shareholders expected to own 55.1%, McCormick shareholders 35%, and Unilever 9.9%, plus $15.7 billion in cash. The combined company will be led by McCormick CEO Brendan Foley and CFO Marcos Gabriel, and the deal excludes Unilever's food assets in India, Nepal, and Portugal, as well as its lifestyle nutrition, Buavita, and Lipton ready-to-drink operations.
McCormick & Company IncorporatedMcCormick's $44.8B deal to combine with Unilever's food business requires divesting Colman's to preempt competition/antitrust concerns.
Unilever PLCUnilever is divesting Colman's mustard to proactively address competition concerns ahead of its $44.8B food-business combination with McCormick.
