Unilever has agreed to protect employment terms of workers in its European and British food business for two years after the planned 2027 completion of its $65 billion merger of the unit with U.S. spice maker McCormick, according to a memo seen by Reuters.
The previously unreported guarantee, twice as long as is typical for such deals, will lock the new McCormick-Unilever Foods business into a deal until at least mid-2029, governing the treatment and pay of its European employees regardless of changes in business conditions.
