While Magnum/Unilever Pitches Itself, Ben & Jerry’s Renews Call for Separation
While soon-to-be Magnum Ice Cream Co. on Tuesday made its first presentation to investors, Ben & Jerry's co-founder Ben Cohen protested outside the London hotel demanding the American business be sold off and “freed” from corporate censorship, according to multiple media reports from England.
Unilever has owned the social-activist ice cream company since 2000 and includes it in the spinoff, expected in November, of all its ice cream businesses into Magnum Ice Cream Co. Unilever officials have said all along the B&J brand will not be sold.
"The business is not for sale. It's fully integrated in Unilever, in the Magnum Ice Cream Company," new Magnum CEO Peter ter Kulve ter Kulve told investors, according to Reuters.
Not even to namesake founders Ben (Cohen) and possibly Jerry (Greenfield), who were mentioned as possible suitors in reports back in February. Where they would get the money to buy what appears to be a billion-dollar business is another question.
The Vermont ice cream company and its British parent have been at odds for the past decade over its divisive social activism, which has included support for former NFL quarterback Colin Kaepernick and his civil rights crusade (B&J created Colin Kaepernick’s Change the Whirled non-dairy frozen dessert) and more recently against Israel’s war in Gaza and building of settlements in the West Bank. Cohen and Greenfield, who are Jewish, added their support to the latter Ben & Jerry’s cause.
Those issues are divisive and sparked backlash against B&J and Unilever, so the corporate parent started controlling B&J’s messaging, despite an agreement in the 2000 acquisition that it would allow Ben & Jerry’s board independence to continue its social activism.
Ben & Jerry’s has called it censorship and has sued its parent over a number of issues, including for the March firing of B&J’s CEO. It’s been lobbying to be offered for sale separately from the rest of Magnum.
Magnum already is operating separately from Unilever and is expected to be spun off to Unilever shareholders in November. Unilever will retain a stake of up to 20% after the Magnum listing.
About the Author
Dave Fusaro
Editor in Chief
Dave Fusaro has served as editor in chief of Food Processing magazine since 2003. Dave has 30 years experience in food & beverage industry journalism and has won several national ASBPE writing awards for his Food Processing stories. Dave has been interviewed on CNN, quoted in national newspapers and he authored a 200-page market research report on the milk industry. Formerly an award-winning newspaper reporter who specialized in business writing, he holds a BA in journalism from Marquette University. Prior to joining Food Processing, Dave was Editor-In-Chief of Dairy Foods and was Managing Editor of Prepared Foods.