Unilever to merge its global foods business with McCormick, signals ownership shift in Pakistan unit

Unilever Plc has announced an agreement to combine its global foods business with McCormick & Company, a move that is expected to change the ownership structure of its Pakistani subsidiary.

In a disclosure to the Pakistan Stock Exchange (PSX) on Thursday, Unilever Pakistan Foods Limited said the transaction, announced on March 31, 2026, remains subject to regulatory approvals and other closing conditions. The combined entity is expected to focus on flavours and food products globally.

The company stated that its majority shareholder, Conopco Inc., a subsidiary of Unilever Plc, holds a 76.5% stake, and the proposed global transaction is expected to result in a change in ultimate beneficial ownership and control of this shareholding.

Unilever Pakistan Foods said it is currently evaluating the potential impact of the transaction on its local operations and corporate structure. It added that further details on the transition, timeline, and any changes in control will be shared with the exchange and shareholders once received from the parent company.