Unilever has announced the merger of its food division with McCormick & Company, creating a company valued at around €60 billion, according to Economica.net and Reuters.
Deal structure
The transaction will be executed through a Reverse Morris Trust (RMT) structure, offering tax advantages.
Read also: Danone acquires Huel in a deal worth around €1 billion
Unilever will spin off its food division and merge it with McCormick & Company.
Unilever and its shareholders will hold a 65% stake in the combined entity.
Valuation and financial impact
The deal values Unilever’s food division at around $45 billion, while McCormick & Company is valued at approximately $21 billion.
Unilever will also receive $15.7 billion in cash.
Strategic shift
The transaction marks a major move for CEO Fernando Fernandez, following the separation of the ice cream division, including brands like Ben & Jerry’s and Magnum.
Romania operations
Unilever operates a key industrial platform in Ploiești, where it invested €48 million to expand production capacity.
The facility produces over 40,000 tonnes annually.
Excluded assets
Certain operations, including those in India, are excluded from the transaction.
Photo: afaceri.news
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