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Marmite maker Unilever in talks to merge food business with US-based McCormick

about 4 hours ago
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Unilever, the owner of Marmite, Dove and Hellmann’s mayonnaise, is in talks to combine its food business with the US-based spice and seasoning maker McCormick.The Anglo-Dutch food company – which last year spun off its ice-cream division, the home to Ben & Jerry’s, Magnum and Wall’s – has entered discussions over the future of the “highly attractive” business.Unilever is valued at almost £100bn, and its food unit, which includes brands such as Knorr, could be worth tens of billions of pounds.McCormick, which owns brands including French’s yellow mustard, Old Bay seasoning and Cholula hot sauce, is valued at about $15bn (£11bn).“Unilever confirms that it has received an inbound offer for its foods business and is in discussions with McCormick & Company,” the Marmite maker said in a statement.

“The board believes foods is a highly attractive business, with a strong financial profile led by market-leading brands in growing categories and is confident in the future of the foods business as part of Unilever.There can be no certainty that any transaction will be agreed.”The companies are exploring an all-stock deal and if an agreement can be reached it would leave Unilever focused on beauty, personal care and home products.Earlier this year, Fernando Fernández, the chief executive of Unilever, said the company was looking to shift away from food.“We are really shifting our portfolio into more beauty, more wellbeing, more personal care,” he told a conference in New York.

It was reported this week that Unilever had previously held talks with Kraft Heinz to combine their food operations.Over the past decade the company has sold off its spreads business, which included brands such as Flora and I Can’t Believe It’s Not Butter, in 2017; most of its tea business, including Lipton, PG Tips and Tazo, was sold in 2022 before last year’s listing of the ice-cream business.Unilever has also disposed of brands including The Vegetarian Butcher and the healthy snacking brand Graze.If Unilever completes the deal with McCormick it could mark the end of nearly a century competing against major food rivals including Kraft Heinz, Nestlé and PepsiCo.The deal would leave the group positioned to compete directly with major household and personal care companies including L’Oréal, Beiersdorf and Estée Lauder.

Fernández has said that, over the medium term, he aimed to generate two-thirds of Unilever’s revenues from brands such as Dove, Liquid IV hydration sachets and Dermalogica skin care,“Urbanisation, wealth expansion, massive entry of the female gender in the labour market, low fertility rates, massive adoption of healthy lifestyles – this all plays in favour [of these categories],” he said earlier this year,Unilever has explored several big deals of its own in recent years, including making an approach for GlaxoSmithKline’s consumer health unit in 2021,In December, Fernández said Unilever was now only focused on small “bolt-on” acquisitions in the beauty and personal care space,“Transformational acquisitions are off the table.

So we are not looking at that at this stage,” he said.Shares in Unilever rose more than 1% in early trading on Friday.
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Rachel Roddy’s recipe for spaghetti with mushrooms, soft cheese and herbs | A kitchen in Rome

Before cooking something, it is never a bad idea to turn to the expert on the science of food and cooking, Harold McGee. This week, I had mushrooms, which, as he notes, are fruiting bodies, specialised structures that, encouraged by the parent body underground, force themselves up through the soil and open their umbrella-like cap so the gills or pores can release spores into passing air currents. The aim is the same as for all pushy parents: get the next generation into the world and hope they don’t get eaten in the process.I am hoping that a few million spores got out before the white and chestnut mushrooms I bought at our local supermarket were picked and packed. Mushrooms are often described as smelling and tasting earthy, but, as with most things, McGee is right

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How to turn puff pastry offcuts into a brilliant cheesy snack – recipe | Waste not

After testing puff pastry for the Filter a few weeks ago, I had loads of trimmings left over, which reminded me of one of my favourite zero-waste recipes. Malfatti are biscuits made from pastry offcuts, which are seasoned, rolled in seeds and spices, baked and served with cheese. Determined to create something new with all my excess puff, I realised that it would be perfect for making misshapen cheese straws. Even if you have only a few offcuts, I implore you to top them with cheese and some sauerkraut or kimchi, then twist and bake alongside a tart or pie. They’re a brilliant little cheeky snack

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Tips for downsizing recipes | Kitchen aide

Any tips for downsizing recipes to serve one? Dividing by the number of servings doesn’t always work.Melanie, by email“It’s often just common sense,” says Kitty Coles, author of Make More With Less, plus a little maths – though, as Melanie so wisely points out, you can’t always simply divide the ingredients and be done with it.First, you need to consider your cookware: “It’s really worth investing in smaller pans and a smaller skillet,” says Alexina Anatole, who is behind the Small Wins Substack. A tiny amount of liquid in a large pan, say, will get too much exposure to heat, so it’s very likely you’ll under- or overcook its contents. As Shelina Permalloo, author of What to Cook When Everyone’s Hungry, says, “The absorption method for rice is a nightmare if you’re using a wrong-sized pan

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Ready salted, prawn cocktail, pickled onion and smoky bacon – crisps are undoubtedly the nation’s favourite snack food, subject to a variety of staple and sometimes suspicious flavour varieties. According to one recent report, they were the UK’s snack of choice on 94% of “all consumption occasions”, often enjoyed with a complementary dip, or served in a packet ripped open on a pub table. But now, the humble bag of crisps is having a revamp.Enter: the loaded crisp bag. It’s a lot like loaded fries or nachos, in that it can be a vehicle for a whole gamut of flavours – as served, for example, at Pablos, a fast food outlet in Nottingham where anything from ground beef to molten cheese is dolloped into an opened bag of crisps

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