- Yesterday Unilever plc (NYSE:UL) sold its Ben & Jerry’s business in Israel to Avi Zinger, the current Israel-based licensee.
- Under the terms of Unilever’s acquisition agreement of Ben & Jerry’s in 2000, Ben & Jerry’s was granted rights to make decisions about its social mission. Still, Unilever reserved primary responsibility for financial and operational decisions.
- The new business arrangement follows a Unilever review of Ben & Jerry’s in Israel after announcing last year its decision to discontinue sales of its ice cream in the West Bank.
- According to Financial Times, Ben & Jerry’s disagrees with the move to end a row over ice cream sales in Israel and the occupied Palestinian territories, highlighting the discord between companies.
- According to the report, the sale ended a year-long dispute over Ben & Jerry’s policy to boycott West Bank and East Jerusalem, which had attracted a lawsuit and an aggressive reaction from the Israeli government and U.S. politicians.
- The protest by Ben & Jerry’s over Unilever’s decision appears to show the limits of the brand’s independence, Financial Times wrote.
- Price Action: UL shares are down 1.82% at $44.73 during the premarket session on the last check Thursday.
- Photo via Wikimedia Commons
