Overview

• The co-founders sent an open letter to TMICC’s board and prospective investors asking that Ben & Jerry’s be separated from the new company.
• Ben Cohen and Jerry Greenfield argue Unilever has eroded agreed safeguards and curbed the brand’s activism and voice.
• Magnum responded that Ben & Jerry’s will remain part of the group and is not for sale.
• Cohen attended TMICC’s capital markets day to protest the planned inclusion of the brand in the spin-off.
• The spin-off targets a November float with a primary listing in Amsterdam, secondary listings in London and New York, a planned 20% Unilever stake to be reduced over time, and roughly €500 million in medium-term cost savings.