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Benzinga
Benzinga
Business
Shivani Kumaresan

Ben & Jerry's Sues Parent Unilever On Israeli business Sale: CNBC

Unilever UL CNBC Israel Ben Jerry Unilever Plc West Bank
  • Unilever Plc (NYSE:UL) owned Ben & Jerry's has sued its owner to stop the sale of its Israeli business to a local licensee, CNBC reported.
  • The move is said to help keep Ben & Jerry's ice cream products available in Israel.
  • The brand said Unilever decided on the sale without the approval of its independent board.
  • The report added that a judge on Tuesday denied Ben & Jerry's application for a temporary restraining order but ordered Unilever to show cause by July 14 for why a preliminary injunction should not be issued. 
  • The conflict was set off in 2021 when Ben & Jerry's said it would stop sales in the West Bank territory occupied by Israel since 1967.
  • Related: Ben & Jerry's Disagrees With Unilever Divesting Brand To Israel Local Licensee: FT
  • But Unilever went ahead with the sale as it said it reserved primary responsibility for financial and operational decisions.
  • Price Action: UL shares are trading higher by 0.35% at $46.00 in premarket on the last check Wednesday.
  • Photo Via Wikimedia Commons
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