The Competition and Markets Authority (CMA) has begun seeking views on McCormick’s proposed combination with Unilever’s food business.

The UK competition watchdog opened an invitation to comment on 21 July, asking retailers, suppliers and other interested parties to raise any concerns about how the transaction could affect competition in the UK. Submissions must be made by 5 August.

The CMA stressed that it has not yet launched a formal phase one investigation, with the consultation forming the first stage of its information-gathering process.

However, the regulator confirmed it has received the information required from McCormick and Unilever to begin the pre-notification process.

The $44.8bn (£33.5bn) deal, unveiled in March, will bring Unilever brands including Hellmann’s and Knorr together with McCormick’s portfolio, which includes French’s, Frank’s RedHot, Cholula and Old Bay.

The combined food giant is expected to generate annual sales of around $20bn, spanning herbs, spices, seasonings, cooking products, sauces and condiments across retail and foodservice channels.

Under the terms of the transaction, Unilever and its shareholders will own 65% of the enlarged company, while existing McCormick shareholders will hold the remaining 35%.

Unilever will also receive a $15.7bn cash payment. Its shareholders are expected to directly own 55.1% of the combined group, with Unilever retaining a 9.9% stake that it plans to sell down over time.

The business will continue to operate under the McCormick name and will be led by its existing senior leadership team, alongside executives from Unilever Foods.

McCormick will retain its global headquarters in Maryland and its New York Stock Exchange listing, while establishing an international headquarters in the Netherlands and pursuing a secondary European listing.

The companies expect the combination to generate approximately $600m in annual cost savings by the end of its third year.

The transaction is currently expected to complete by mid-2027, subject to shareholder approval, regulatory clearance and other customary closing conditions.

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