Unilever, a food manufacturer, is undertaking a significant reorganization resulting in the elimination of approximately 7,500 jobs worldwide. This move follows last year’s announcement by the British company regarding the discontinuation of a considerable number of brands. Currently, the group employs around 127,000 individuals.
Furthermore, Unilever has decided to put its ice cream division up for sale, which includes popular brands such as Ola, Magnum, Hertog, and Ben & Jerry’s. It is highly probable that this division will be taken public, potentially through an initial public offering (IPO).
According to Unilever’s Dutch CEO, Hein Schumacher, the production and sales of ice cream no longer align with the rest of the company’s operations. Schumacher emphasizes the significant differences in business models between frozen products like ice cream and other product categories such as personal care or laundry detergents.
Moreover, the sale of ice cream is heavily influenced by seasonal factors, which Schumacher believes does not integrate well with Unilever’s overall strategy. The company aims to focus on brands that possess global strength and scalability, and as a result, has already divested its tea division.
Regarding the ice cream business, Unilever intends to establish it as an independent entity, potentially through an IPO. However, the CEO refrains from specifying whether this IPO will take place in the Netherlands or elsewhere, emphasizing the need to consider various factors including business climate, laws, regulations, and shareholder value.
As for the location of the new ice cream company’s headquarters, Schumacher declines to speculate, stating that it is too early to make such determinations.
