McCormick & Company has unveiled the planned operating structure, executive leadership team and intention to secure a secondary listing on the London Stock Exchange as it prepares for the completion of its proposed acquisition of most of Unilever's food business.
The US flavourings and seasonings giant said the combined business is expected to complete by mid-2027, subject to regulatory approvals.
The announcement comes as the UK Competition and Markets Authority last week invited interested parties to comment on the proposed multibillion-pound transaction, marking the first stage of its review of the deal.
Following completion, McCormick plans to reorganise the combined business into four commercial divisions: Americas Consumer, International Consumer, Global Food Service and Global Flavour.
The Consumer business will be split geographically, with Americas Consumer generating annual sales of around $8 billion based on 2025 figures, while International Consumer, covering EMEA and Asia-Pacific, is expected to deliver around $7bn in annual sales.
The Global Food Service division, with annual sales of approximately $4bn, will combine McCormick's front-of-house expertise with Unilever Foods' back-of-house foodservice capabilities. Meanwhile, the Global Flavour division, expected to generate around $2.5bn in annual sales, will focus on supplying customised flavour solutions to food, beverage and consumer health manufacturers, as well as restaurant chains.
Brendan Foley, chairman, president and chief executive of McCormick, said the integration planning had made “significant progress”.
“Our planned operating model is designed to place consumers and customers at the centre of the combined business, enabling disciplined execution, enhanced innovation, and sustainable long-term growth, while supporting a rewarding employee experience,” he said.
“Our anticipated executive team will bring together proven leaders from both McCormick and Unilever Foods... positioning us well to capitalise on our expanded global platform, realise expected synergies, and create value for all stakeholders.”
McCormick also confirmed it intends to seek a secondary listing on the London Stock Exchange alongside its existing New York Stock Exchange listing when the transaction completes.
The company said the move would facilitate capital flows and improve liquidity for shareholders, while reflecting the global shareholder base inherited through the Unilever Foods business.
Its global headquarters will remain in Hunt Valley, Maryland, while the combined company will establish an international headquarters in the Netherlands, maintaining Unilever Foods' research and development facilities there.
Andrew Foust, McCormick's chief integration officer, who will become executive vice-president and president of the Americas Consumer division, said the two businesses shared a strong cultural alignment.
“I am confident we have the right structure and leadership to execute on a successful integration upon closing,” he said.
McCormick also announced the remainder of the executive leadership team, drawing senior executives from both organisations. Alongside Foley and chief financial officer Marcos Gabriel, the new team will include Heiko Schipper as president of International Consumer, Nuria Hernandez as president of Global Food Service, Suzanne Roy as president of Global Flavour, and function leaders spanning growth, supply chain, digital, legal, human resources and research and development.
The Integration Management Office will remain in place after completion of the deal to oversee the execution of integration plans, the delivery of expected synergies and the transition from services currently provided by Unilever under transition service agreements.
McCormick has previously said it expects to provide further details on anticipated revenue and cost synergies before the end of the third quarter.