McCormick & Company, a US-based food and flavorings manufacturer, has announced plans to acquire at least 76.55 percent of Unilever Pakistan Foods Limited and take control of the Pakistani company. The proposed acquisition is subject to regulatory approvals and forms part of a broader transaction involving Unilever PLC’s global food business.
The public announcement of intention, dated October 21, was submitted through Arif Habib Limited, the manager to the offer.
McCormick intends to acquire 4,876,294 shares through an agreement, representing 76.55 percent of the company’s shareholding. The number of shares to be acquired through a subsequent public offer has not yet been determined.
Deal Remains Subject to Regulatory Approval
The proposed acquisition is part of a global transaction agreed upon by Unilever PLC and McCormick on March 31, 2026. Under the agreement, McCormick intends to acquire sole control of substantially all of Unilever PLC’s global food business, subject to agreed business exclusions. Unilever Pakistan Foods is the Pakistani entity included in the transaction.
The announcement states that the acquisition requires the necessary regulatory approvals, including approval from the Competition Commission of Pakistan. The proposed announcement of intention may be withdrawn if the required approvals are not granted.
According to the disclosure, Unilever Pakistan Foods had 6,369,950 ordinary shares, each with a face value of Rs. 10. The company’s share price stood at Rs. 25,352 on the day before the announcement, while its weighted average share price was Rs. 25,308 between September 23 and October 20, 2026.
The transaction is expected to create a group with nearly $20 billion in annual revenue. The deal brings together major brands including Knorr, Hellmann’s, French’s, and Cholula.
McCormick, founded in 1889 and headquartered in Maryland, United States, manufactures, markets, and distributes herbs, spices, seasoning mixes, sauces, condiments, and other flavor related products. The company supplies the food and beverage industry in approximately 150 countries and territories. Its proposed acquisition of Unilever Pakistan Foods is part of its planned expansion through the global food business transaction.
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