Unilever Looks to Offload $33 Billion Food Arm to McCormick (2)

Unilever Plc is in talks to sell its food business to McCormick & Co., in what would be the biggest overhaul of the owner of Hellmann’s mayonnaise since it was founded almost a century ago.

The Anglo-Dutch consumer goods company said Friday it had received an offer from the Maryland-based spices and seasonings maker, but that there was no certainty a deal would be achieved. The food business has a potential equity value of as much as €29 billion ($33 billion), according to Bloomberg Intelligence.

Any sale would mark the biggest transaction in the history of McCormick, whose market ...