Marmite maker Unilever nears deal to combine food arm with US condiment giant

Spinning off brands such as Hellmann’s, Knorr and Pot Noodle into $60bn entity puts core focus on beauty, personal care and home productsBusiness live – latest updatesUnilever is in advanced talks to combine its food business with US-based McCormick in a deal including $15.7bn (£11.9bn) cash that would give the Marmite-to-Hellmann’s mayonnaise owner majority control of a $60bn food empire.London-listed Unilever will control 65% of the new spin-off, which will combine brands such as Knorr and Pot Noodle with McCormick’s condiments and spices including French’s mustard, Old Bay seasoning and Cholula hot sauce. Continue reading...