Marmite maker Unilever agrees $44.8bn deal to combine food arm with McCormick

Marmite, perhaps Unilever’s most famous food brand in the UK, will be owned by a separate company, majority controlled by Unilever, alongside McCormick. Photograph: Newscast/Universal Images Group/Getty Images

Unilever has agreed to combine its food business with US-based McCormick in a $44.8bn deal that will give the Marmite-to-Hellmann’s mayonnaise owner majority control of a food empire.

The Anglo-Dutch company will control 65% of the new spin-off, which will combine brands such as Knorr and Pot Noodle with McCormick’s condiments and spices including French’s mustard, Old Bay seasoning and Cholula hot sauce.