(March 20): Unilever plc is in talks to sell its food business to McCormick & Co, transforming the owner of Hellmann’s mayonnaise into a maker of beauty and personal care products in the biggest transformation since it was founded almost a century ago. Barclays estimates Unilever’s food division has an equity value of some €28 billion (US$32.4 billion or RM126.88 billion) to €31 billion. Still, Unilever said its food business was highly attractive with a strong financial profile, and that it was confident in its future as part of the group. Fernandez has already said the company earmarked between €1 billion and €1.5 billion in small food brand disposals. Major food companies like Unilever and rival Nestlé are struggling to drive growth as cash-strapped consumers rein in spending and turn to cheaper store brands.

Source: The Edge Markets March 20, 2026 08:53 UTC