Unilever sells food business to McCormick for $44.8bn with employment guarantees until 2027

Unilever, maker of Knorr sauces and other food brands, has reached an agreement with European works councils to protect employment conditions ahead of selling most of its food business to US company McCormick & Co. The deal is valued at approximately $44.8 billion and is expected to close in mid-2027. The labour agreement was a key condition before the transaction could be finalised.