As Unilever prepares to spin off its ice cream division, the ice cream company Ben & Jerry’s is fighting to completely sever ties with its parent company.
Unilever’s decision to separate its ice cream business—including Ben & Jerry’s—has become a contentious process. The plan to turn the division into an independent company has been in motion since last year, but now the founders of Ben & Jerry’s, Ben Cohen and Jerry Greenfield, are seeking to buy back their life’s work. They are calling on investors to help take over the business, most recently in an April 2 article in The Wall Street Journal, where Ben Cohen urged Unilever to “set us free.”
Cohen and Greenfield sold Ben & Jerry’s to Unilever in 2000, but the relationship has been strained ever since—mainly due to the brand’s strong stance on social and political issues. Tensions have escalated further following Unilever’s recent firing of Ben & Jerry’s CEO, David Stever, last month.
Unilever has announced that the separation of its ice cream division is expected to be completed by the end of 2025. The most likely route is a demerger, in which Ben & Jerry’s, Magnum, and other ice cream brands will become an independent company. However, Unilever is also considering a direct sale, depending on what maximizes value for shareholders.
At the same time, Unilever has launched a cost-cutting initiative aimed at saving €800 million over three years and boosting efficiency across the group. The plan is expected to impact around 7,500 jobs globally.
While Unilever aims to refocus on its core areas such as beauty, personal care, home care, and nutrition, Ben & Jerry’s is fighting to preserve its identity as an activist brand.
Read more about Unilever’s plans for its ice cream division HERE
Photo: Ben & Jerry´s