Marmite will move into American ownership following a £50 billion transaction. Its owner, Unilever, has confirmed the sale of a number of brands to McCormick in a significant merger deal.

It has been announced that Marmite, known for being a quintessential British brand, has been sold to the US spice and sauce maker. The acquisition also includes Colman’s mustard, Bovril, Hellmann’s mayonnaise, Knorr and Pot Noodle. McCormick’s current portfolio includes French’s mustard and Schwartz.

Unilever boss Fernando Fernández said the deal would create a “global flavour powerhouse”. Although Unilever will control 65% of the combined company, it will be called McCormick and be led by its executives.

McCormick is set to pay Unilever $15.7 billion in cash and the equivalent of $29.1 billion in shares as part of the deal. The new spin-off will be headquartered in the US and listed as a company in New York.

Marmite has been produced in Burton-on-Trent since 1902, while Colman’s has been produced in Norwich since 1814. However, Brendan Foley, chairman of McCormick, has not confirmed whether UK manufacturing sites will remain open.

He said: “When we think about getting more detail about those areas, it is probably detail yet to be shared.” The deal is expected to be completed by mid-2027.

It comes as part of Unilever’s wider strategy to reduce its food portfolio. The firm said it will focus more on home and personal care products such as Dove, Vaseline and Lynx.

Mr Fernández said the McCormick deal was “another decisive step in sharpening our portfolio and accelerating our strategy towards high-growth categories”.

He explained: “We are unlocking trapped value through a growth-led separation of foods, creating a scaled, global flavour powerhouse.

“By combining Unilever Foods’ iconic leading brands and global reach with McCormick’s exceptional portfolio, category expertise and capabilities, we are establishing a focused, high-quality business with significant top-line growth and value creation potential.”