Unilever Nigeria Plc has revealed that its parent company, Unilever Plc, plans to merge its global food business segment to McCormick & Company, Inc.
The company said it is evaluating the effects of the proposed merger in a statement submitted to the Nigerian Exchange (NGX) on Wednesday.
The merger deal between Unilever Plc and McCormick is subject to regulatory clearances and other customary conditions, according to a statement signed by the company secretary, Peter Dada.
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According to Unilever Nigeria, the deal is anticipated to establish a new combined firm with an emphasis on food items and tastes.
“Unilever Pic (the parent company), officially announced on March 31, 2026, that it has entered into an agreement to combine its global foods business with McCormick & Company, Inc., subject to required regulatory approvals and the satisfaction of other customary closing conditions,” the statement reads.
“This global transaction is expected to create a new combined group specializing in the flavors and food products.
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“At this stage, the Company is evaluating the specific implications of this global transaction on its local operations and corporate structure.”
Additionally, Unilever Nigeria stated that as soon as the parent company provides more information, the Nigerian Exchange and shareholders will be informed about the transition, timeframe, and any operational adjustments.
Given that the food industry contributes significantly to both Unilever Plc’s and Unilever Nigeria’s sales, the merger is anticipated to have a big effect on both businesses’ earnings.
According to its income breakdown for 2025, Unilever Nigeria does not run a home care company. Unilever Plc has four business groups: foods, personal care, beauty and wellbeing, and home care.
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In 2025, Unilever Plc’s personal care division brought in €13.2 billion, followed by the foods division with €12.9 billion, beauty and well-being with €12.8 billion, and home care with €11.6 billion.
However as of 2025, the Nigerian subsidiary’s biggest source of income is the foods division, which brings in N127.85 billion, followed by personal care (N60.08 billion) and beauty & wellbeing (N26.35 billion).
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