Unilever Plc will not be exiting its foods business in India, Nepal, and Portugal even as it globally merges the business into a new entity with the US-based McCormick & Company. The new combined entity -- worth $65 billion -- values Unilever's food business at $44.8 billion, and McCormick’s business at $21 billion.

The development is in line with the clarification issued by Unilever’s Indian subsidiary, Hindustan Unilever Ltd (HUL), that the foods segment is a “core and attractive” business and is not under consideration for divestment. In FY25, the foods business generated ₹15,294 crore in revenue, contributing 25% to HUL’s overall top line, with 18% margin and profits of ₹2,808 crore.

Unilever ranks as the 12^th largest multinational in India, according to Fortune India’s MNC 500 ranking for 2026.

Following the global separation of the foods portfolio, Unilever will now emerge as a €39 billion pureplay home and personal care company even as it plans to gradually sell down its 9% stake in the combined company. Unilever shareholders will own 55.1%.

Unilever will, however, continue to have a presence in the foods business in India through a diverse portfolio spread across packaged foods (Kissan (ketchups, jams, squashes), Knorr (soups, meal makers, instant mixes) and Hellmann’s (mayonnaise and condiments). Lifestyle nutrition business includes Boost and Horlicks. Beverages include tea brands, Lipton and Brooke Bond, Bru coffee. Staples include Annapurna (atta and salt)

Unilever’s press release stated that, post separation, the company will have a superior footprint in faster-growing markets, with anchor markets of the US and India contributing 38% of group turnover (versus 33% in FY25) and emerging markets contributing 62% of group turnover (versus 59% in FY25).

Amid global restructuring efforts, HUL, which is valued at Rs 4.83 lakh crore ($61.62 billion) has been aggressively investing in premiumisation, digital channels, and category expansion. The company’s brands cater to over 700 million consumers in India, making HUL one of the country’s largest FMCG players with category leadership in food and beverages, besides deep distribution reach.

Meanwhile, the new combined foods entity will be led by the McCormick CEO and CFO, with senior management from Unilever Foods. McCormick will retain its existing name; its Hunt Valley, Maryland global headquarters and NYSE listing. Besides, establishing international headquarters in the Netherlands, the US firm is planning a secondary listing in Europe.