McCormick & Company, Inc. (MKC) said it agreed to acquire Lawry's brand from Unilever (UN, UL) for $605 million in cash. Lawry's manufactures and sells a variety of marinades and seasoning blends under the well-known Lawry's and Adolph's brands. Annual sales of this business are approximately $150 million, primarily in the U.S. and Canada. The acquisition supports McCormick long-term outlook to grow sales 4-6%. The Lawry's business includes a full line of seasoning blend products under the Lawry's and Adolph's brands that are marketed in grocery stores and other consumer outlets, and account for 65% of sales. Another 23% of sales are Lawry's wet marinades which lead the category in the U.S. market. Sales to food service customers represent the remaining 12%. The acquisition is expected to be immediately accretive to earnings. The purchase price is approximately nine times EBITDA (earnings before interest, tax, depreciation and amortization). The closing of the transaction is subject to the customary closing conditions and is expected to close in 2008. McCormick has agreed to pay Unilever a $30 million termination fee, subject to certain limited conditions, in the event that HSR clearance is not obtained.For Unilever, the deal is part of its plans to dispose of non-strategic brands, with collectively more than EUR 2 billion in turnover.Michael Polk, President, Unilever Americas, said, "This transaction takes us a step forward as we continue to reshape our portfolio in North America by sharpening our focus on building strong brands with global reach."
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May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.