Brands including Hellmann's mayonnaise and Knorr seasonings, owned by UK-based consumer goods giant Unilever, will combine with McCormick's Schwartz and Ducros herbs to form a new business.
McCormick will pay Unilever $15.7bn (€13.65bn) and offer shares under the deal, which sees the US group's shareholders owning 35% of the new business, Unilever taking a 9.9% stake and its shareholders the remainder.
