• Unilever to Sell Magnum and Ben & Jerry’s Ice Cream Brands

    Unilever to Sell Magnum and Ben & Jerry’s Ice Cream Brands

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    Consumer goods giant Unilever is planning to sell its ice cream business, primarily including Magnum and Ben & Jerry’s. Last year, the ice cream segment generated approximately $8.56 billion in revenue.

    Unilever has also identified additional efficiencies aimed at generating $867 million in savings over the next three years, which includes the reduction of 7,500 jobs. The company employs about 128,000 people.

    The chair stated that refining the company’s portfolio is crucial to achieving the improved results Unilever aims for. The company has been under pressure from shareholders, particularly Nelson Peltz, now a director, to enhance its performance. Hein Schumacher has recently taken over as CEO.

    In 2022, Unilever sold its tea business to private equity firm CVC for around $5.87 billion. The company’s remaining brands include Axe (Lynx), Dove, Hellmann’s, Knorr, Lifebuoy, Lux, Omo (Persil), Rexona, Sunlight, Sunsilk, and Marmite. Unilever is now structured into five business groups: Beauty & Wellbeing, Personal Care, Home Care, Nutrition, and Ice Cream.