McCormick seeks to acquire 76.55% stake in Unilever Pakistan Foods

McCormick & Company plans to take control of Unilever Pakistan Foods through a proposed purchase of at least 76.55% of the company, Profit by Pakistan Today reported, citing a regulatory filing on Wednesday. The arrangement covers about 4.88 million UPFL shares, with a subsequent offer to other shareholders under Pakistan’s takeover rules. Completion requires regulatory clearances, including approval from the Competition Commission of Pakistan.

The proposal is connected to McCormick’s planned combination with Unilever PLC’s food operations, agreed on March 31, 2026, subject to specified exclusions. Unilever Pakistan Foods has around 6.37 million issued shares, each with a face value of Rs10, and Arif Habib Ltd has been named manager for the offer. UPFL closed at Rs25,352 on October 20, while its 28-day weighted average for September 23 to October 20 was Rs25,308.