REG - Unilever PLC - Response to Media Speculation

UnileverAnnouncement

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RNS Number : 8156Y  Unilever PLC  31 March 2026

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Inside information

This announcement contains inside information. This is a public announcement
pursuant to Article 17 Paragraph 1 of the European Market Abuse Regulation
(596/2014), including as it forms part of UK law.

 

FOR IMMEDIATE RELEASE

 

31 March 2026

Unilever PLC

Response to Media Speculation

 

Further to the announcement released on 20 March 2026, the Board of Unilever
PLC (the "Company") notes recent media speculation regarding a potential
strategic transaction involving elements of its Foods business.

The Company is now in advanced discussions with McCormick & Company
("McCormick") regarding a potential transaction. Work remains ongoing to agree
and finalise a transaction and it is possible that an agreement could be
concluded today, although there can be no certainty that a transaction will
be agreed.

If a transaction were to proceed, it is currently contemplated that it would
involve a combination of Unilever Foods (excluding parts of its Foods
portfolio such as its business in India) with McCormick, with an upfront cash
component of approximately US$15.7 billion and the majority of the
consideration in McCormick equity. Upon completion of the transaction, it is
expected that Unilever and its shareholders would hold 65% of the combined
company. The transaction would be undertaken by a Reverse Morris Trust, which
is intended to be tax-free for US federal income tax to Unilever and its
shareholders. Full terms will be announced if a transaction is agreed.

The Company will make further announcements as appropriate.

 

For any enquiries, please contact:

Investor Relations: Investor.Relations@unilever.com
(mailto:Investor.Relations@unilever.com)

Unilever Press Office: Press-Office.London@unilever.com
(mailto:Press-Office.London@unilever.com)

 

Cautionary Statement

This announcement may contain forward-looking statements within the meaning of
the securities laws of certain jurisdictions, including 'forward-looking
statements' within the meaning of the United States Private Securities
Litigation Reform Act of 1995. All statements other than statements of
historical fact are, or may be deemed to be, forward-looking statements. Words
and terminology such as 'will', 'aim', 'expects', 'anticipates', 'intends',
'looks', 'believes', 'vision', 'ambition', 'target', 'goal', 'plan',
'potential', 'work towards', 'may', 'milestone', 'objectives', 'outlook',
'probably', 'project', 'risk', 'continue', 'should', 'would be', 'seeks', or
the negative of these terms and other similar expressions of future
performance, results, actions or events, and their negatives, are intended to
identify such forward-looking statements. Forward-looking statements also
include, but are not limited to, statements and information regarding
Unilever's emissions reduction and other sustainability-related targets and
other climate and sustainability matters (including actions, potential impacts
and risks and opportunities associated therewith). Forward-looking statements
can be made in writing but also may be made verbally by directors, officers
and employees of the Unilever Group (the "Group") (including during management
presentations) in connection with this announcement. These forward-looking
statements are based upon current expectations and assumptions regarding
anticipated developments and other factors affecting the Group. They are not
historical facts, nor are they guarantees of future performance or outcomes.
All forward-looking statements contained in this announcement are expressly
qualified in their entirety by the cautionary statements contained in this
section. Readers should not place undue reliance on forward-looking
statements.

 

Because these forward-looking statements involve known and unknown risks and
uncertainties, a number of which may be beyond the Group's control, there are
important factors that could cause actual results to differ materially from
those expressed or implied by these forward-looking statements. Among other
risks and uncertainties, the material or principal factors which could cause
actual results to differ materially from the forward-looking statements
expressed in this announcement are: Unilever's global brands not meeting
consumer preferences; Unilever's ability to innovate and remain competitive;
Unilever's investment choices in its portfolio management; the effect of
climate change on Unilever's business; Unilever's ability to find sustainable
solutions to its plastic packaging; significant changes or deterioration in
customer relationships; the recruitment and retention of talented employees;
disruptions in Unilever's supply chain and distribution; increases or
volatility in the cost of raw materials and commodities; the production of
safe and high-quality products; secure and reliable IT infrastructure;
execution of acquisitions, divestitures and business transformation projects;
economic, social and political risks and natural disasters; financial risks;
failure to meet high and ethical standards; and managing regulatory, tax and
legal matters and practices with regard to the interpretation and application
thereof and emerging and developing ESG reporting standards including
differences in implementation of climate and sustainability policies in the
regions where the Group operates.

 

The forward-looking statements are based on our beliefs, assumptions and
expectations of our future performance, taking into account all information
currently available to us. Forward-looking statements are not predictions of
future events. These beliefs, assumptions and expectations can change as a
result of many possible events or factors, not all of which are known to us.
If a change occurs, our business, financial condition, liquidity and results
of operations may vary materially from those expressed in our forward-looking
statements.

 

The forward-looking statements speak only as of the date of this announcement.
Except as required by any applicable law or regulation, the Group expressly
disclaims any intention, obligation or undertaking to release publicly any
updates or revisions to any forward-looking statements contained herein to
reflect any change in the Group's expectations with regard thereto or any
change in events, conditions or circumstances on which any such statement is
based. New risks and uncertainties arise over time, and it is not possible for
us to predict those events or how they may affect us. In addition, we cannot
assess the impact of each factor on our business or the extent to which any
factor, or combination of factors, may cause actual events, to differ
materially from those contained in any forward-looking statements.

 

Further details of potential risks and uncertainties affecting the Group are
described in the Group's filings with the London Stock Exchange, Euronext
Amsterdam and the US Securities and Exchange Commission, including in the
Annual Report on Form 20-F 2025 and the Unilever Annual Report and Accounts
2025.

 

 

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