McCormick to Seek Secondary London Listing as Part of $45 Billion Unilever Foods Merger

McCormick & Company (NYSE: MKC) said Thursday it will pursue a secondary listing on the London Stock Exchange as part of its planned $45 billion combination with Unilever’s Foods business, unveiling the operating structure for the newly merged company for the first time.

The deal, first announced in March and expected to close by mid-2027, pairs the U.S. spice and seasoning giant with Unilever’s foods portfolio in a bet that global demand for flavor-rich, healthier products can offset a maturing domestic market. The transaction has drawn scrutiny over its complex structure, lengthy timeline to completion, and potential antitrust hurdles.

Under the new framework, the combined entity will be organized into four divisions: Americas Consumer, International Consumer, Global Food Service and Global Flavor. Leadership will be drawn from both companies, with McCormick’s Andrew Foust set to head Americas Consumer, Unilever’s Heiko Schipper and Nuria Hernandez leading International Consumer and Global Food Service respectively, and McCormick’s Suzanne Roy taking charge of Global Flavor. CEO Brendan Foley and CFO Marcos Gabriel will retain their roles.

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McCormick shares have fallen 2.2% to $50.88 on Thursday, down from a previous close of $52.02, as investors weighed the fresh details on integration.

The company confirmed its primary listing will remain on the NYSE, with global headquarters staying in Hunt Valley, Maryland, while an international headquarters will be established in the Netherlands, home to Unilever’s R&D operations.

The London listing plan offers a rare bright spot for the UK exchange, which has struggled with a thin pipeline of new listings in recent years.