Unilever Nigeria Plc may lose its foods business segment following a major restructuring move by its parent company, Unilever Plc.
Gatekeepers News reports that Unilever Plc has agreed to combine its global foods division with McCormick & Company in a deal valued at about $44.8 billion.
The Nigerian subsidiary disclosed in a filing to the Nigerian Exchange that it is currently assessing how the global transaction will affect its local operations and corporate structure.
The deal, which is subject to regulatory approvals, will create a new combined company focused on flavours, condiments, and food products.
For Unilever Nigeria, the development is significant because the foods segment is its largest revenue source. In 2025 alone, the division generated about ₦127.85 billion, far exceeding earnings from personal care and beauty products.
Globally, Unilever’s foods business is also a major contributor, bringing in €12.9 billion in revenue, making it one of the company’s core divisions before the planned separation.
The parent company said the move is part of a broader strategy to streamline operations and focus more on high-growth areas such as beauty, wellbeing, and personal care.
Unilever Nigeria noted that further details regarding the transition, timeline, and operational changes will be communicated to shareholders once final decisions are made.
