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Unilever said its food business was highly attractive with a strong financial profile.

Photographer: Hollie Adams/Bloomberg

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By Jillian Deutsch and Michelle F. Davis

March 20, 2026 at 7:16 AM UTC

Updated on March 20, 2026 at 12:36 PM UTC

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Unilever Plc is in talks to sell its food business to McCormick & Co., in what would be the biggest overhaul of the owner of Hellmann’s mayonnaise since it was founded almost a century ago.

The Anglo-Dutch consumer goods company said Friday it had received an offer from the Maryland-based spices and seasonings maker, but that there was no certainty a deal would be achieved. The food business has a potential equity value of as much as €29 billion ($33 billion), according to Bloomberg Intelligence.

Unilever Looks to Offload $33 Billion Food Arm to McCormick - Bloomberg