Dutch pantry staples Calvé, Knorr, and Hellmann’s are about to get a new American owner, as Unilever has agreed to merge its entire foods division with US spice company McCormick.
On March 31, the Anglo-Dutch brand Unilever announced it would fold its food division into McCormick & Company. Based in Maryland, the group is best known for its spices, seasonings, and hot sauces.
The merged group will keep the McCormick name, its US headquarters, and its New York Stock Exchange listing.
But the Netherlands isn’t entirely out of the picture.
What stays in the Netherlands
While the deal makes financial headlines — especially after Unilever’s food division was valued at around $45 billion — many Dutch consumers are more concerned with what the change means for their everyday favourites.
But rest assured, pindakaas fanatics, Unilever promised the Dutch cabinet in 2020 that it would retain its food division in the Netherlands in the event of a sale.
Honouring Unilever’s word, McCormick plans to set up an international headquarters in the Netherlands. Meanwhile, Unilever’s food innovation centre in Wageningen and headquarters in Rotterdam will also remain.
Today, we announced an agreement to combine Unilever’s Foods business with @McCormickCorp, creating a scaled, global flavour powerhouse and positioning Unilever as a pureplay HPC business.
— Unilever (@Unilever) March 31, 2026
Find out more https://t.co/MT1pjLtz6r #UnileverNews pic.twitter.com/eoVw7nqI04
Despite being (legally) considered a British company, Unilever chose to list its newest venture, the Magnum Ice Cream Company, on the Amsterdam Stock Exchange in 2025.
And, although the NOS reports that McCormick is planning a secondary European listing, whether the ball goes to the London or Amsterdam exchange is unclear.
The cabinet has already had a tête-à-tête with Unilever. Now, Minister of Economic Affairs Heleen Herbert plans to enter talks with McCormick.
Money talks
Once the deal is closed, Unilever will gain a whopping $15.7 billion in cash.
Together, Unilever and its shareholders (including BlackRock and Vanguard Group) will hold 65% equity of the merged entity. McCormick’s existing shareholders will own the remaining 35%.
Unilever’s portfolio has been dwindling since 2017, when it sold its origin story: the margarine brands Blue Band and Becel, to a US investment group. The renowned brands Conimex, Unox, and De Vegetarische Slager met the same fate.
The silver lining? Unilever itself retains a 9.9% stake in the new company.
This means that, while the new company will be officially American, the Netherlands will continue to influence its products. (A small but meaningful win for national pride in the country’s pantry staples!)
While the merger is expected to save around $600 million per year, its completion is targeted for the middle of 2027, pending regulatory approval and a vote by McCormick shareholders.
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