US spice maker McCormick announces plan to acquire majority stake in Unilever Pakistan Foods
- Unilever Pakistan Foods had 6.37 million issued ordinary shares, each with a face value of Rs10
McCormick & Company intends to acquire a controlling stake in Unilever Pakistan Foods Limited, part of a larger global transaction involving Unilever PLC's food business.
- McCormick's acquisition of Unilever Pakistan Foods Limited.
- Global deal for Unilever PLC's food business.
- Regulatory approvals and financial performance.
US-based McCormick & Company has announced its intention to acquire at least 76.55% and control of Unilever Pakistan Foods Limited, according to a regulatory filing on Wednesday, as part of a global transaction involving Unilever PLC’s food business.
McCormick intends to acquire 4.88 million shares in the Pakistani company through an agreement, with a public offer to be made in accordance with Pakistan’s takeover regulations, the announcement said.
“Acquirer intends to acquire at least 76.55% shareholding and control of the target company (Unilever Pakistan Foods Limited).
“The intended acquisition forms part of the proposed combination of Unilever PLC’s global food business with McCormick & Company Inc. involving the acquisition by the acquirer of sole control of substantially all of Unilever PLC’s global food business, subject to agreed business exclusions, pursuant to a merger agreement dated 31 March 2026,” read the notice.
McCormick & Company is an American food company founded in 1889 and headquartered in Maryland. It is a global leader in flavour, manufacturing and distributing spices, herbs, seasoning mixes, and condiments under brands like McCormick, French’s, Frank’s RedHot, and OLD BAY across 150 countries.
“The public offer will be subject to the receipt of all requisite regulatory approvals, including the approval of the Competition Commission of Pakistan,” read the public notice.
Unilever Pakistan Foods had 6.37 million issued ordinary shares, each with a face value of Rs10, according to the announcement. Its shares closed at Rs25,352 on the day before the announcement, while the 28-day weighted average price, from 23 September 2026 to 20 October 2026, stood at Rs25,308.
The company reported net sales of Rs40.57 billion in 2025, up from Rs33.71 billion a year earlier. However, its 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.
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