US-based McCormick & Company will acquire at least 76.55 percent shareholding and control of Unilever Pakistan Foods Limited, according to a regulatory filing on Wednesday. The move is part of a global transaction involving Unilever PLC’s food business.
McCormick plans to buy 4.88 million shares in the Pakistani company through an agreement. It will then make a public offer in line with Pakistan’s takeover regulations.
The filing said the acquisition forms part of the proposed combination of Unilever PLC’s global food business with McCormick. Under a merger agreement dated 31 March 2026, McCormick will take sole control of substantially all of that business, subject to agreed exclusions.
The public offer requires all regulatory approvals, including clearance from the Competition Commission of Pakistan.
Unilever Pakistan Foods has 6.37 million issued ordinary shares with a face value of Rs10 each. Its shares closed at Rs25,352 on the day before the announcement. The 28-day weighted average price, from 23 September to 20 October 2026, was Rs25,308.
The company’s net sales rose to Rs40.57 billion in 2025 from Rs33.71 billion a year earlier. Net profit fell to Rs5.95 billion from Rs6.98 billion over the same period. Arif Habib Limited has been appointed manager to the offer.
McCormick, founded in 1889 and headquartered in Maryland, manufactures and distributes spices, herbs, seasoning mixes and condiments in 150 countries. Its brands include McCormick, French’s, Frank’s RedHot and OLD BAY.