US spice maker McCormick announces plan to acquire majority stake in Unilever Pakistan Foods
US-based McCormick & Company has announced its intention to acquire at least 76.55% and control of Unilever Pakistan Foods Limited, according to a regulatory filing on Wednesday, as part of a global transaction involving Unilever PLC’s food business. McCormick intends to acquire 4.88 million shares in the Pakistani company through an agreement, with a public offer to be made in accordance with…
McCormick & Company, a US-based spice manufacturer, has announced plans to acquire a majority stake in Unilever Pakistan Foods Limited, according to a regulatory filing. The acquisition aims to grant McCormick control over Unilever Pakistan Foods, with the company intending to purchase at least 76.55% of the shares, as stated in the announcement.
The deal is part of a larger transaction involving Unilever PLC's food business, with the acquisition requiring sole control of Unilever's global food operations, subject to specific business exclusions and a merger agreement dated March 31, 2026. The public offer for the shares will be subject to approval from the Competition Commission of Pakistan and other necessary regulatory bodies.
Unilever Pakistan Foods, which has 6.37 million issued ordinary shares, reported net sales of Rs40.57 billion in 2025, a year-on-year increase from Rs33.71 billion. However, its net profit decreased from Rs6.98 billion to Rs5.95 billion over the same period. Prior to the announcement, the company's shares closed at Rs25,352, with a 28-day weighted average price of Rs25,308. Arif Habib Limited has been appointed as the manager of the offer.
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