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  • 1440 Daily Digest

Unilever Splits from Ice Cream

British consumer products giant Unilever will spin off its ice cream division by the end of 2025 as part of a broader restructuring, which will see 7,500 jobs cut for a savings of $870M over three years. The company owns some of the highest-profile ice cream brands in the world, including Ben & Jerry's, Breyers, and Magnum. Shares in the company closed up 3% on the news.

Unilever, the world's largest soap producer, owns a stable of consumer product brands, including Dove, Hellmann's, Vaseline, and Axe (see list). Its capital-intensive, $8B ice cream unit—which depends on highly energy-dependent refrigerated supply chains—has underperformed in recent years, receiving half the profits of its personal care offerings amid declining sales. Recently hired CEO Hein Schumacher announced plans last year to focus on 30 of the company's brands to simplify and accelerate growth.

The move concludes an occasionally tumultuous 24-year relationship with pun-loving Ben & Jerry's, a brand known for its outspoken political views. 

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