McCormick dismisses EY as auditor, taps KPMG ahead of Unilever foods deal

McCormick & Company is changing auditors as it prepares to close its pending foods deal with Unilever. In a Monday 8-K, the company said its audit committee on September 24 dismissed Ernst & Young LLP because EY is not expected to be considered independent under SEC rules after the anticipated closing of the Unilever transactions announced March 31, 2026.

Under those agreements, Unilever is to transfer its foods business, subject to certain exceptions, to McCormick. EY's dismissal takes effect when McCormick files its Annual Report on Form 10-K for the fiscal year ending November 30, 2026. McCormick shares closed Monday at $48.46, up about 1.1% on the session and down roughly 28% year to date.

The filing says EY's audit reports on McCormick's consolidated financial statements for the fiscal years ended November 30, 2024, and November 30, 2025, did not contain an adverse opinion or disclaimer, and were not qualified or modified as to uncertainty, audit scope, or accounting principles. Through the date of the 8-K, McCormick reported no disagreements with EY under Item 304(a)(1)(iv) and no reportable events under Item 304(a)(1)(v).