McCormick spices are displayed in San Anselmo, Calif., on March 28, 2023. Justin Sullivan/Getty Images
The first quarter of 2026 marked a renewed wave of megamergers in the food industry, as companies sought scale, efficiency, and synergies to navigate a more challenging global economic environment.
The return of large-scale consolidation reflects a broader shift in corporate strategy, as companies respond to persistent cost pressures, slower growth, and changing consumer behavior by pursuing size and operational leverage.
Back-to-Back Deals
The trend was highlighted by Sysco’s agreement to acquire Jetro Restaurant Depot for approximately $29.1 billion, and by McCormick’s combination with Unilever Foods, valued at about $44.8 billion.
