Ben & Jerry's owner Unilever to spin off ice cream arm
The Peninsula
London: British consumer goods giant Unilever announced Tuesday that it will separate its ice cream unit, whose top selling products include Ben Jer...
London: British consumer goods giant Unilever announced Tuesday that it will separate its ice cream unit, whose top-selling products include Ben & Jerry's and Magnum, as a standalone business.
The company also unveiled a major overhaul which it said would "impact" around 7,500 mainly office-based jobs worldwide and save 800 million euros ($870 million) over the next three years.
"The separation of Unilever and Ice Cream in combination with the productivity programme will ensure that Unilever's financial and management resources are focused on its strongest, global or scalable brands," Unilever said in a statement.
"These will have the capability to drive category expansion and deliver accelerated, sustainable levels of growth and improved profitability."
The ice cream unit has five of the 10 biggest global brands, including Wall's brand Cornetto and Carte D'Or, with turnover of 7.9 billion euros in 2023 -- although underlying sales growth was disappointing.
