Helena Lyng Blak
8 weeks ago

Ben & Jerry's to spin off

Unilever announces demerger from its ice cream unit.
Ben & Jerry's Ice Cream on the Shelf of a Local Grocery Store
Arne Beruldsen / Shutterstock.com

On Tuesday, multinational consumer goods company Unilever announced its plan to separate its ice cream business, which includes brands such as Ben & Jerry's and Magnum, resulting in the elimination of 7,500 jobs.

According to Bloomberg, Unilever stated that the unit had generated €7.9 billion ($8.6 billion) in sales in 2023, but its profit margins were significantly lower than those of the company's personal care division.

The spinoff will commence immediately, with Unilever expecting completion sometime in 2025.

Investors appeared to welcome Unilever's decision. The company's shares were up by more than 5% in early trading, as reported by Reuters.

Unilever, a global leader in consumer goods, boasts over 400 brands, including Dove and Ben & Jerry's. Operating in more than 190 countries, the company emphasizes sustainability and ethical practices. Unilever aims to make sustainable living commonplace, addressing challenges related to health, hygiene, and environmental impact.


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