March 19 (Reuters) - Unilever ( UL ) is in talks to separate its food business and combine it with spice maker McCormick ( MKC ) in an all-stock deal that could come within weeks, the Wall Street Journal reported on Thursday, citing sources.

A deal, if it succeeds, could bring brands such as Unilever's ( UL ) Hellmann's mayonnaise and Maryland-based McCormick's ( MKC ) iconic Cholula hot sauce under one roof.

Reuters could not immediately verify the report. The companies did not immediately respond to Reuters requests for comment.

Unilever ( UL ) has been weighing a broader separation of ​its food assets, several news outlets reported this week, as the consumer goods maker plans to streamline its business.

Food companies have been struggling with weak demand as budget-conscious consumers cut back on spending and opt for cheaper store brands, while the rising adoption of weight-loss drugs has also curbed overall consumption.

Last year, Reuters reported that the Dove soap maker was considering selling British brands including Marmite, Colman's and Bovril to streamline Unilever's ( UL ) portfolio and focus on beauty and wellbeing.

McCormick ( MKC ), which in January forecast weak profit for 2026 due to higher tariff-related costs, has a market value of around $14.51 billion, while London-based Unilever ( UL ) is valued at more than $134 billion, according to LSEG-compiled data.

The Financial Times reported on Wednesday that Unilever ( UL ) and Kraft Heinz ( KHC ) had recently held talks over a potential merger of parts of their food businesses, but those discussions have since ended.