Retail News CRM

Tag: Ben & Jerry

  • Magnum Ice Cream Retains Ben & Jerry’s Amid Unilever Spin-off, Prioritizes Market Share Reclamation

    Magnum Ice Cream Retains Ben & Jerry’s Amid Unilever Spin-off, Prioritizes Market Share Reclamation

    Magnum Ice Cream announced on Wednesday that it has no intentions of selling off Ben & Jerry’s, despite recent rumors. Instead, the company plans to focus on regaining market share and enhancing sales as Unilever’s spin-off of Magnum Ice Cream Company draws near.

    Unilever anticipates that its ice cream division, which includes brands such as Magnum, Ben & Jerry’s, Wall’s, and Cornetto, will account for just over one-fifth of the approximately US$88 billion global ice cream market. This places the company in direct competition with rivals like the Nestle-supported Froneri.

    Magnum has been operating independently from Unilever for some time, and following years of dwindling ice cream market share and stationary profits, CEO Peter ter Kulve stated that the shift has enabled the company to invest in supply chains, sales, and distribution.

    “We experienced a significant increase in market share last year,” ter Kulve commented.

    Ben & Jerry’s Not for Sale

    Ben & Jerry’s made headlines at an investor day preceding the mid-November listing on Tuesday, reiterating their desire for an independent spin-off following years of conflict regarding the US brand’s outspoken stance on Gaza.

    When questioned about a proposal led by co-founders Ben Cohen and Jerry Greenfield to purchase the brand last year, ter Kulve replied, “I have not been privy to any discussion between Unilever and Ben & Jerry. Ben & Jerry’s is not for sale.”

    Following the Magnum listing, Unilever will retain a stake of less than 20 percent. As for a reported 15 billion euro (US$17.55 billion) valuation, ter Kulve responded that the market would be the deciding factor.

    Terms of Demerger

    Magnum CFO Abhijit Bhattacharya stated that the split would allow Unilever to concentrate its efforts, while providing Magnum with an opportunity to increase its margins. Bhattacharya explained that the terms of the demerger, which provide every Unilever shareholder with a proportional stake in Magnum, protect the company from the market volatility that an initial public offering might face.

    However, the newly formed ice cream business will serve as a test for investor interest in a product that is high in sugar, especially at a time when the Trump administration is advocating for healthier lifestyle choices in America.

    Ter Kulve revealed that Magnum has eliminated most artificial coloring and is working on reducing sugar content as long as it doesn’t compromise the taste. “It has to taste fabulous because actually making very healthy ice cream products that nobody likes is a useless exercise,” ter Kulve stated.

    Questions & Answers

    Is Magnum planning to sell Ben & Jerry’s?
    No, Magnum has clearly stated that Ben & Jerry’s is not for sale.

    What is Magnum’s strategy for the future?
    Magnum plans to focus on regaining market share and boosting sales, particularly following the upcoming spin-off from Unilever.

    What changes is Magnum making in response to health trends?
    Magnum has removed most artificial coloring from its products and is working towards reducing sugar content without compromising on taste.

  • Ben & Jerry’s wades into Palestine controversy unexpected

    Ben & Jerry’s wades into Palestine controversy unexpected

    Ben & Jerry’s has said it will stop selling its ice cream in Israeli settlements in the occupied West Bank and East Jerusalem. The US company said sales “in the Occupied Palestinian Territory (OPT)” were “inconsistent with our values”. Israeli Prime Minister Naftali Bennett said the move was “morally wrong” and would prove to be “financially wrong”.

    The West Bank and East Jerusalem have been under Israeli control since the 1967 Middle East war.

    More than 600,000 Jews live in about 140 settlements there. Most of the international community considers the settlements illegal under international law, though Israel disputes this.

    “We have a longstanding partnership with our licensee, who manufactures Ben & Jerry’s ice cream in Israel and distributes it in the region,” the statement said.

    “We have been working to change this, and so we have informed our licensee that we will not renew the license agreement when it expires at the end of next year.”

    Ben & Jerry’s also runs two “scoop shops” in Israel and said it would distribute its goods in Israel through a different agreement, the details of which would be announced “when we’re ready”.

    UK firm Unilever, which has owned Ben & Jerry’s since 2000, says the decision was taken and announced by Ben & Jerry’s and its independent board, but it remained “fully committed” to maintaining a presence in Israel.

    Ben & Jerry’s Israeli licensee was quoted by the Haaretz newspaper as saying: “Global Ben & Jerry’s decided not to renew the agreement with us in another year and a half in light of our refusal [to comply] with their demand and stop selling throughout Israel.”

    “We call on the Israeli government and consumers not to permit a boycott of Israel… Ice cream is not part of politics.”

    Israeli politicians reacted furiously to the announcement.

    “The boycott of Israel – a democracy surrounded by islands of terror – reflects a complete loss of bearings. The boycott does not work and will not work, and we will fight it with all our might,” Mr Bennett said.

    Foreign Minister Yair Lapid called Ben & Jerry’s move a “disgraceful capitulation” to anti-Semitism and the Boycott, Divestment and Sanctions (BDS) movement, which calls for a complete boycott of Israel over its treatment of the Palestinians.

    “Over 30 states in the United States have passed anti-BDS legislation in recent years. I plan on asking each of them to enforce these laws against Ben & Jerry’s,” he said.

    A spokesman for BDS, Mahmoud Nawajaa, it welcomed Ben & Jerry’s decision and called on the company “to end all its procedures with the apartheid Israel”.

    Ben & Jerry’s – which was founded in 1978 by best friends Ben Cohen and Jerry Greenfield – has a track record of campaigning on social issues such as LGBTQ+ rights and climate change.

    Lees ook:

    Lees ook:

    Lees ook: