Unilever is in discussions to sell its food division to spice and sauce maker McCormick, in a multibillion-dollar deal that would complete the consumer goods giant’s near decade-long pivot to faster growing beauty and personal care brands.
The FTSE 100 group confirmed on Friday that it had received an offer for the business, which includes brands like Marmite, Hellmann’s mayonnaise and Pot Noodle, and is expected to be valued at tens of billions of dollars.
“The Board believes Foods is a highly attractive business, with a strong financial profile led by market-leading brands in growing categories and is confident in the future of the Foods business as part of Unilever,” the company said in a statement on Friday. Unilever added that there was “no certainty” any deal will be agreed.