Karachi: McCormick & Company, Inc., a leader in the global flavor industry, has announced its intention to acquire at least 76.55% of the shareholding and control of Unilever Pakistan Foods Limited. The announcement was made by Arif Habib Limited, who has been appointed as the manager to the offer, in accordance with the provisions of the Securities Act 2015 and the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017.

The proposed acquisition forms part of a larger global transaction involving McCormick & Company Inc. assuming control of Unilever PLC's global food business. This merger agreement was signed on March 31, 2026, and includes the Pakistani entity within the business being acquired. The public announcement of intention to acquire shares will be published in both English and Urdu newspapers within two working days of the announcement date, as per regulatory requirements.

According to information available from the Pakistan Stock Exchange (PSX), McCormick & Company, Inc. intends to acquire 4,876,294 shares, representing 76.55% of the total shareholding in Unilever Pakistan Foods Limited. This acquisition is subject to regulatory approvals, and the announcement may be withdrawn if such approvals are not secured.

McCormick & Company, Inc. is headquartered in Hunt Valley, Maryland, and is publicly listed on the New York Stock Exchange under the ticker symbol MKC. The company, founded in 1889, is a recognized global manufacturer, marketer, and distributor of herbs, spices, seasoning mixes, and other flavor-related products, serving the food and beverage industry across approximately 150 countries and territories.

The management team of McCormick & Company includes Brendan M. Foley, who serves as Chairman, President, and CEO, along with a board of directors comprising several independent members. The company's shares are widely held without any shareholder owning more than 10% of the aggregate shareholding as of May 31, 2026.

The intended acquisition aims to consolidate McCormick's presence in the Asian market, particularly in Pakistan, by gaining control of Unilever Pakistan Foods Limited, a significant player in the region. The acquisition process is expected to comply with relevant regulations and may involve a competitive bid if another interested acquirer submits an earlier public offer.