Tag: $McCormick

McCormick will buy Unilever’s food business for a combination of cash and equity, in a deal that values the Unilever unit at nearly $45 billion, the two food companies announced.

Unilever (ULVR) is in talks to sell its foods business to smaller rival McCormick & Company (MKC.N),  potentially marking a major shift for the British ‌consumer goods company as it seeks to focus on higher-growth household and personal care businesses.

Shares of McCormick & Co. (MKC) fell sharply Thursday after the world’s largest spice company missed quarterly earnings expectations and issued a mixed outlook for fiscal 2026.

McCormick on Tuesday beat expectations for third-quarter sales and profit, aided by resilient demand for its higher-priced spices and seasonings even as macroeconomic uncertainty loomed over consumer spending.

McCormick & Co.’s sales edged higher in its fiscal second quarter, while earnings beat Wall Street estimates. The maker of spices and seasonings also maintained its fiscal-year sales outlook, saying it is well positioned to mitigate higher costs from tariffs.

McCormick (MKC.N), opens new tab missed first-quarter profit estimates on Tuesday, as higher promotional expenses and price cuts for its spices, sauces and seasonings fell short of boosting demand.

Hot sauce maker McCormick raised its annual earnings forecast on Tuesday after posting better-than-expected third-quarter results, banking on consumers choosing to make meals at home to curb discretionary spending amid sticky inflation.

Shares of McCormick were trading higher after the seasonings maker easily beat quarterly earnings and sales estimates.