Unilever Explores Strategic Options for Ben & Jerry’s Amid Portfolio Review
Unilever is reportedly considering a spin-off or sale of its ice cream division, including the iconic Ben & Jerry’s brand, as part of a broader portfolio overhaul aimed at sharpening focus and improving long-term growth potential.
The move comes as new CEO Hein Schumacher assesses Unilever’s category mix following subdued performance and investor pressure to deliver stronger returns. The ice cream unit, which contributes over €7 billion in annual revenue, has long been a volatile segment for the company, particularly during seasonal shifts and intensified competition.
According to sources familiar with the matter, no final decision has been made, but strategic options under review include a complete separation of the ice cream business. Such a decision would mark a significant shift for Unilever, which acquired Ben & Jerry’s in 2000 and also owns well-known frozen treat brands like Magnum and Wall’s.
Ben & Jerry’s has been both a commercial and cultural asset, known for its premium positioning and outspoken social activism. However, the brand has also sparked occasional controversy due to its political stances, creating operational complexities for a parent company focused on mainstream mass-market appeal. Unilever’s broader ice cream portfolio presents inventory and distribution challenges, especially in emerging markets, often making it less streamlined compared to its other core segments such as personal care and home cleaning products.
This potential divestiture aligns with wider FMCG sector trends, where multinational conglomerates are increasingly narrowing focus toward high-margin, scalable categories. Underperformance in consumer staples has prompted several industry players to simplify portfolios and double down on core competencies.
For Unilever, a spin-off of the ice cream division could unlock shareholder value and provide clarity in operational strategy, allowing greater investment in fast-growing areas like health and beauty. It may also appeal to investors seeking pure-play exposure to the ice cream market, which, while competitive, remains resilient amidst economic volatility.
Industry analysts will be closely watching Unilever’s next steps, as the outcome could reshape the competitive ice cream landscape and serve as a bellwether for further consolidation or divestiture moves in the global FMCG arena.