Ben & Jerry’s founders explore potential buyback from Unilever

UK – Ben & Jerry’s founders, Ben Cohen and Jerry Greenfield, have explored the possibility of repurchasing the ice cream brand from Unilever, according to a Bloomberg report citing sources familiar with the discussions.

The report indicated that Cohen and Greenfield have held preliminary talks in recent months and may seek support from socially conscious investors to facilitate the potential transaction.

Given Ben & Jerry’s significant valuation, which could reach billions, substantial financial backing would be necessary.

However, it remains uncertain whether a deal will materialize.

Cohen and Greenfield originally sold Ben & Jerry’s to Unilever in 2000 for US$326 million.

The brand has since continued to operate under Unilever’s ownership while maintaining a level of independence in its social and environmental advocacy.

A Unilever spokesperson said that the ice cream business is not on the market, stating: “As confirmed during our 2024 FY results announcement, we are on track to separate the ice cream business by way of a demerger.”

The spokesperson further emphasized that “Ben & Jerry’s is an important part of the ice cream business, and it’s not for sale.”

According to reports, the potential buyback discussions arise amid Unilever’s decision to separate its ice cream division from the rest of its portfolio.

The company had previously announced restructuring plans aimed at streamlining its business operations.

While no formal offer has been made, the idea of a buyback has sparked interest, particularly among investors aligned with Ben & Jerry’s long-standing commitment to social activism.

Industry analysts suggest that if Cohen and Greenfield proceed with the initiative, they would need to secure financial and strategic support to compete with Unilever’s valuation of the business.

The development comes at a time when major consumer goods companies are reassessing their brand portfolios.

Some analysts believe Unilever’s decision to separate its ice cream division could present an opportunity for the founders to regain control, though any such transaction would be complex.

Observers note that Ben & Jerry’s unique brand identity and commitment to social causes have distinguished it within Unilever’s broader portfolio.

The brand has historically taken strong public stances on issues such as climate change, racial justice, and corporate responsibility. 

While Cohen and Greenfield’s discussions remain in early stages, the possibility of a buyback highlights their continued interest in the brand they built.

Whether the talks progress into a formal bid will likely depend on financial negotiations and Unilever’s long-term strategy for its ice cream division.

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