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Unilever bought Ben & Jerry's 24 years ago. Now it's exiting the ice cream business.

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Unilever said it's spinning off iconic ice cream brand Ben & Jerry's to focus on its other businesses.

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.

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 factorThe spinoff will end an unusual corporate partnership that began in 2000 when Unilever bought Ben & Jerry's for $326 million.

 

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Unilever is cutting 7,500 jobs and spinning off its ice cream businessUnilever, the company that makes Ben & Jerry’s ice cream, Dove soaps and Vaseline, says it's cutting 7,500 jobs and spinning off its ice cream business to reduce costs and boost profits.
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