economy
April 1, 2026
Formation of a food giant is underway
The deal is the most important move by CEO Fernando Fernandez since he took the helm in March 2025.
TL;DR
- Unilever is forming a $65 billion food company with McCormick.
- This deal is the second-largest in the food industry's history.
- The move is the primary initiative of CEO Fernando Fernandez.
- Unilever's food division has experienced lagging sales growth.
- Investor pressure, including from Nelson Peltz, influenced the decision.