Unilever Pakistan Foods Limited has informed the Pakistan Stock Exchange that a global transaction announced by Unilever PLC could lead to a change in the ultimate ownership and control of its local operations.
According to the company’s disclosure, Unilever Plc announced on March 31, 2026, that it has entered into an agreement to combine its global foods business with McCormick & Company, Inc., subject to regulatory approvals and other closing conditions. The transaction is expected to create a new combined group focused on flavors and food products.
The company said that since its majority shareholder, Conopco Inc., is a subsidiary of Unilever Plc, the global arrangement is expected to result in a change in the ultimate beneficial ownership and control of the 76.5 percent shareholding currently held in Unilever Pakistan Foods.
At this stage, the company said it is evaluating the specific implications of the global transaction on its local operations and corporate structure.
It added that further details regarding the transition, timeline, and any subsequent changes in control will be shared with the Exchange and shareholders once received from the parent company.
The deal will combine Unilever’s global foods business with McCormick in a deal that creates a food group with nearly $20 billion in annual revenue, bringing together major brands such as Knorr, Hellmann’s, French’s, and Cholula.
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