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Unilever bought Ben & Jerry’s 24 years ago. Now it’s exiting the ice cream business.
Unilever’s ownership of quirky ice cream maker Ben & Jerry’s is coming to the end of its sometimes rocky road. The British consumer products company said Tuesday it plans to spin off the brand as well as its other ice cream businesses.
In its announcement, Unilever said the decision is based on its board’s view that the company should focus on “superior brands with strong positions in highly attractive categories that have complementary operating models.” The spinoff will include Unilever’s additional ice cream brands, such as Magnum and Cornetto.
The ice cream businesses have “a very different operating model, and as a result the board has decided that the separation of ice cream best serves the future growth of both ice cream and Unilever,” it added.
Unilever’s other ice cream brands include Cornetto, Magnum and Kwality Wall’s. The company’s profit margin on churning out ice cream is less than half what it makes selling personal care products, according to Bloomberg. Unilever is also known for brands including Dove soap, Hellman’s, Pepsodent and Vaseline.
The separation comes after activist investor Nelson Peltz joined Unilever’s board in 2022 to push for changes at the consumer product company. Peltz had backed the appointment of Hein Schumacher as Unilever’s new CEO in 2023, as well as Schumacher’s strategic plan to revitalize the business, according to Reuters.
Unilever, which has 128,000 employees worldwide, also said Tuesday it is launching a “productivity program” that is expected to lead to a reduction of about 7,500 mostly office-based jobs. The spinoff of the ice cream division is likely to be completed by the end of 2025.
Chill factor
The spinoff will end an unusual corporate partnership that began in 2000 when Unilever bought Ben & Jerry’s for $326 million. At the time of the purchase, the Vermont-based ice cream maker stipulated that it would have an independent board, which allowed it to continue taking openly progressive stances on social and political issues.
Those views sometimes caused friction with Unilever. In 2022, for instance, Ben & Jerry’s sued its parent company for selling its business in Israel and the country’s West Bank region to a local licensee, arguing that the sale violated Unilever’s pledge to end sales of its products in the region in 2021 as a show of support for the Palestinian cause.
Spinning off Ben & Jerry’s and its other ice cream brands will allow Unilever to focus on boosting revenue at its other divisions, the company said.
“Ice cream has distinct characteristics compared with Unilever’s other operating businesses,” Unilever said. “These include a supply chain and point of sale that support frozen goods, a different channel landscape, more seasonality, and greater capital intensity.”
Unilever said a “demerger” of its ice cream businesses that creates a newly listed company is the most likely route, although other options for separating Ben & Jerry’s and other ice cream brands will be considered.
—With reporting by the Associated Press.
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Dublin’s Grafton Street was mobbed last month when word spread that Coldplay was coming to shoot the video for their new single, “We Pray.”
“I was a little nervous for you there in the beginning,” said Mason.
“Yeah, but you have to just trust in the goodness of people – and the proficiency of the police!” laughed Chris Martin.
Martin was joined by collaborators Burna Boy, Tini, Elyanna and Little Simz. “The five of us actually had never actually played the song in the same place before,” said Martin. “So, our first time doing it was on the street in the middle of all those people.”
Coldplay was in Dublin for four sold-out nights at Croke Park, on their “Music of the Spheres” world tour. With more than 10 million tickets sold, and box office of over $1 billion, Billboard has crowned it “the biggest rock tour of all time.”
Mason asked drummer Will Champion, “You guys are in the middle of literally a record-breaking tour. Does it feel like that to you?”
“Sometimes it’s hard to see the woods for the trees,” Champion replied. “We’re aware that we’re having such a great time. We’re really enjoying ourselves.”
“It definitely was extremely loud last night,” said bassist Guy Berryman.
Champion, Berryman, Martin and guitarist Jonny Buckland haven’t always felt the love, especially in the early years. But critics, who once asked “Why does everyone hate Coldplay?” are now calling them “the 21st century’s defining band.”
“It seems like you’ve kind of been fully embraced even by the music critics,” said Mason.
“Well, you’re very sweet. I mean, that’s just not true!” laughed Martin.
“I don’t think you’re ever fully embraced,” said Buckland.
“Also, we are really not a rock band,” said Martin. “So, when we’re judged by those parameters, we’re always gonna come up short. One thing I’d say that we’ve become more comfortable with is just being ourselves.”
Their catalog of hits stretches across a quarter of a century. Martin said, “The truth of it is, some songs arrive fully formed, basically – not Jonny’s parts or Will’s or Guy’s parts, but my part. And those are the rarest, but they’re always the best, the ones that I had least to do with.”
“But sometimes they’re the hardest to produce, because you don’t want to ruin them!” laughed Buckland.
Martin says he can feel that right away: “Definitely, yeah. The songs of ours that have connected with the most people, they connected with me first. I was like, ‘Oh, this is really good!’ ‘Yellow,’ ‘Viva La Vida,’ ‘Fix You,’ ‘Sky Full of Stars.’ They just land.”
“Viva La Vida” by Coldplay:
“So, in a strange way, you’re listening to it, you’re the first person to listen to it; that’s what it feels like,” said Martin. “With the song ‘We Pray,’ we were in Taiwan on tour about ten months ago. I think it was after a show and I woke up in the middle of the night, this song was just in my head called ‘We Pray.’ And it said, ‘You have to get outta bed and do this now.'”
Coldplay performed “We Pray” with their collaborators on stage for the first time in Dublin. “To have heard a song in the middle of the night in Taiwan and then ten months later it’s on stage in Dublin? I mean, that’s in itself an amazing journey,” Martin said.
Martin started writing songs at a young age: “The first one arrived when I was about 11,” he said.
Martin is always writing, even while on the road. Every morning, he sits down to write freeform – whatever he’s thinking about. “I do that as a way of staying sane!” he laughed. “For 12 minutes in the mornings, I write anything that’s in my head, and it’s often very terrible and very depressed or very anxious, or all of the stuff that you don’t really want anyone else to hear, but you need to release. So, I do that for 12 minutes, and then I burn it.”
“You literally light it on fire?” asked Mason.
“Yeah, or tear it up and flush it away. And it just kind of gets rid of so much nonsense,” Martin said. “Definitely helps in a band, too. Because in the old days we would have a lot more tension and a lot more volatility. But that’s calmed down a lot.”
Buckland was asked about the incredible sense of community at their concerts. “I think this is the point where we are most happy,” he said. “I think we got to that point by being in a band for 25 years and then finally it sort of all clicking into place.”
“Is that just a process of time?” asked Mason.
“Well, I think a process of time and hard work,” said Martin. “We’ve worked quite hard on how we communicate with each other and giving each other space. We tour a lot slower now. We only do about 65 shows a year, which isn’t that many.”
Coldplay’s new record, “Moon Music,” is the band’s tenth studio album.
Martin has said the band would release its last album in 2025. “It was right and it was wrong, like most things I say,” Martin explained. “We are only going to do 12 proper Coldplay albums, but we’re a little bit behind. Not too far behind!”
Buckland explained, “We’re asking for an extension!”
So, why 12 albums? “That’s just what it’s supposed to be,” Martin replied. “I don’t think anyone needs more than that from us. The Beatles did 12.”
Mason asked, “Do you guys have other things you want to do? Is that part of this?”
“Not at all. We’d like to keep playing live,” said Martin.
“So, that goes on?”
“Oh, yeah, yeah – that gets better and better,” Martin said.
“Don’t wanna stop Coldplay,” said Buckland.
You can’t stop Coldplay. Chris Martin says he has to keep sprinting across stadiums.
Why does he have to? “I think it’s like asking an apple tree why does it make apples?” Martin replied. “That’s ’cause that’s what I was made to do. And also, I’m really happy doing it.”
Coldplay performs “feelslikeimfallinginlove” at Glastonbury 2024:
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Story produced by Jon Carras. Editor: Mike Levine.
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On Tuesday, former President Jimmy Carter turns 100 years old. Among those wishing him well is a man who understands the trials of life in the Oval Office, our current President, Joe Biden:
Mr. President, on behalf of the entire Biden family, and the American people, Happy 100th Birthday!
Mr. President, you’ve always been a moral force for our nation and the world. I recognized that as a young senator. That’s why I supported you so early. You’re a voice of courage, conviction, compassion, and most of all, a beloved friend of Jill and me and our family.
We know this is the first birthday without Rosalynn. It’s bittersweet, but we also know she’s always with you. She’s in your heart; she’ll never go away. She may be gone, but she’s always going to be with you. She’s always there, and I know you know that.
Your hopeful vision of our country, your commitment to a better world, and your unwavering belief in the power of human goodness continues to be a guiding light for all of us.
You know, you’re one of the most influential statesmen in our history. Even after you left office, the moral clarity you showed throughout your career showed through again in your commitment through the Carter Center and Habitat for Humanity – resolving conflicts, advancing democracy, preventing disease, and so much more. It’s transforming the lives of people not only at home but around the world.
Put simply, Mr. President, I admire you so darn much.
Jill and I send to you and your incredible family our love. May God continue to bless you, Mr. President. You’ve been a good friend.
Gallery: President Jimmy Carter
Gallery: Carter before the White House
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Story produced by Robert Marston. Editor: Steven Tyler.
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