Overview

• Unilever CEO Fernando Fernandez has confirmed that Ben & Jerry’s will remain part of the soon-to-be launched Magnum Ice Cream Company and is not for sale.
• The ice cream division will be spun off and listed as a separate entity in the Netherlands starting July 1, as part of Unilever's strategy to maximize shareholder value.
• Founders Ben Cohen and Jerry Greenfield have expressed interest in repurchasing the brand but have not succeeded in their efforts.
• Unilever has demanded expedited audits of the Ben & Jerry’s Foundation, which receives $5 million annually, to ensure proper governance and compliance with the acquisition agreement.
• The foundation has raised concerns about the audit demand but hopes to maintain a cooperative relationship with the new spin-off company.