Unilever spins-off its ice cream division
A year ago, Unilever announced that it would investigate spinning off its ice cream division.
That has finally happened.
Peter ter Kulve, president, Ice Cream at Unilever, took to LinkedIn to announce the new company and even reveal the company’s new name and brand identity, now to be known as The Magnum Ice Cream Company.
“I love this name and our new brand,” he wrote in a post on his LinkedIn. “It’s born out of iconic and globally recognised brands like Magnum, Walls, Ben & Jerry’s, Cornetto, that make magical, happy moments around the world. Magnum is an extremely successful, beloved and aspirational brand—it will bring us all together, with our Wall’s heart icon beating right in the centre of our logo. Our new company name clearly shows that turning ordinary moments into lasting memories is at the heart of what we do. We have great momentum for a fantastic future.”
READ: Unilever pausing plan to sell ice cream business to private equity
Last year, Unilever had decided it was going to spin off its ice cream division, saying at the time that the business was too seasonal and capital intensive. At first, Unilever had tried to find a buyer for the division, and when none stepped forward, it made the decision to spin off the company.
The new company will be based in Amsterdam and will be listed on stock exchanges in Amsterdam, London and New York. According to reports, Peter ter Kulve will stay on as CEO of the new company while former Heineken CEO Jean-François van Boxmeer will be chairman.
