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Unilever agrees on worker protection deal following McCormick food merger
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FoodBev Media
Unilever has agreed to protect the employment terms of workers across its European and British food business for two years following its planned merger with US spice maker McCormick, Reuters has reported.
The commitment, which is understood to be twice as long as the protection typically offered in deals of this nature, will apply to employees of the newly formed McCormick-Unilever Foods business until at least mid-2029.
The merger, agreed upon in March , is expected to complete in mid-2027, subject to the required approvals and conditions.
It values Unilever's Food business at around $44.8 billion, with the combined entity set to be worth around $65 billion.
The planned transaction will combine Unilever's food business with McCormick to create a standalone food company, as Unilever continues its strategy of simplifying its portfolio and focusing on its core consumer brands.