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Unilever confirmed negotiations with McCormick & Company to sell Hellmann’s, Knorr, and the entire food division, in a deal that Barclays analysts estimate to be between 28 and 31 billion euros (up to R$ 186 billion), marking a restructuring that would transform the British multinational into a company focused on beauty and personal care
Hellmann’s may stop belonging to Unilever.
The British multinational confirmed on Tuesday (31) that it is in advanced negotiations with McCormick & Company for the sale of its entire food division, including Hellmann’s and Knorr.
If the deal is finalized, Hellmann’s, which is one of the best-selling mayonnaise brands in the world, will be transferred to McCormick, the American company that owns the hot sauce Cholula, in a transaction that could reach R$ 186 billion.
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The sale of Hellmann’s and the rest of the food division is part of CEO Fernando Fernandez’s strategy to reposition Unilever as a company focused exclusively on beauty and personal care.
The food division that includes Hellmann’s accounted for about 25% of Unilever’s total sales in 2025, with revenue exceeding R$ 77 billion.
Despite the advanced stage of the talks, the companies state that there is no guarantee of closing the deal.
How much is the food division that includes Hellmann’s and Knorr worth
Barclays analysts estimate that Unilever’s food division, which includes Hellmann’s and Knorr, could be valued between 28 billion and 31 billion euros.
In reais, this could reach R$ 186 billion, a value that comfortably exceeds McCormick’s own market capitalization, currently around US$ 14.5 billion.
Unilever as a whole is valued at about R$ 711 billion, meaning that the food division with Hellmann’s accounts for more than a quarter of the company’s total value.
The food unit generated revenue exceeding R$ 77 billion in 2025.
If the deal is confirmed, it will be one of the largest corporate transactions in the food sector in years, and Hellmann’s will become part of McCormick’s portfolio alongside brands like Cholula, French’s, and Old Bay.
The combination would bring together the world’s most famous mayonnaise and one of the largest manufacturers of seasonings and condiments under one roof.
Why Unilever wants to get rid of Hellmann’s and the whole food division
The decision to sell Hellmann’s and Knorr is not improvised. It is part of a deliberate strategy by CEO Fernando Fernandez to transform Unilever into a company focused on beauty and personal care.
These segments have higher profit margins and faster growth than the food sector, which faces pressure from consumers, health regulators, and competition from smaller, more agile brands.
The sale of Hellmann’s follows other recent decisions by Unilever, such as the separation of the ice cream business and the global review of the portfolio.
The logic is simple: instead of being a giant company that does everything, Unilever wants to be a large company that does a few things very well.
Hellmann’s, despite being an iconic and profitable brand, belongs to a sector that no longer fits the company’s vision for the future, and that is why it is on the negotiation table.
For Unilever, selling Hellmann’s for up to R$ 186 billion would free up enormous resources to invest in beauty and personal care brands that are growing faster.
The pressure on ultra-processed foods that pushes Hellmann’s to the exit door
The sale of Hellmann’s and the food division comes at a time of transformation in the global food sector.
The demand for ultra-processed products faces increasing pressure from consumers seeking healthier food and from health authorities warning about the impacts of these foods on obesity and chronic diseases.
In the United States, Health Secretary Robert F. Kennedy Jr. has been reinforcing public alerts about the risks of ultra-processed foods.
In addition to regulatory pressure, the advancement of GLP-1-based weight loss medications is changing the consumption habits of millions of people, which directly affects the sales of products like mayonnaise and ready-made broths.
Hellmann’s is not perceived as a healthy product by the modern consumer, and this shift in mindset is one of the factors that makes the food division less attractive to Unilever in the long term.
Selling Hellmann’s now, while the brand is still extremely valuable, may be smarter than waiting for the pressure on ultra-processed foods to erode the division’s value over the years.
What changes for the buyer of Hellmann’s in the market if the deal is closed
For the consumer buying Hellmann’s in the market, the change of ownership should not alter the product in the short term.
Hellmann’s would continue to be made with the same recipe, in the same packaging, and sold in the same supermarkets. What changes is who receives the profit.
McCormick is a company specialized in spices, condiments, and sauces, which makes Hellmann’s a natural fit in its portfolio.
In the long term, the new owner may make adjustments in marketing, positioning, and even launch versions of Hellmann’s combined with McCormick’s spices and flavors.
What the consumer needs to know is that Hellmann’s will not disappear. It will just change owners, moving from a company that wants to focus on shampoo and cream to a company that understands sauces and seasonings.
If the deal is closed, Hellmann’s will remain on the shelves. The difference is that the logo on the annual report will be different.
R$ 186 billion, goodbye to foods and a Unilever that only wants beauty
Unilever is negotiating the sale of Hellmann’s, Knorr, and the entire food division to McCormick in a deal that could reach R$ 186 billion.
If the deal materializes, Hellmann’s will belong to an American spice company, while Unilever will become focused exclusively on beauty and personal care, abandoning the food sector that helped build its history.
The negotiation still has no guarantee of closure, but the message is already clear: Unilever has decided that the future of the company does not include mayonnaise.
Did you know that Hellmann’s may change owners? Do you think the product will change if sold to McCormick? What do you think about Unilever leaving food to focus on beauty? Leave your thoughts in the comments and share this article with those who consume Hellmann’s and need to know what is happening.
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