Unilever has announced that it is getting out of the ice cream business.
In a press release Unilever stated it needs to focus on its portfolio with categories that have complementary operating models.
Ice Cream has a very different operating model, and as a result the Board has decided that the separation of ice cream best serves future growth.
The Unilever Board is confident that the future growth potential of Ice Cream will be better delivered under different ownership.
Their brands include Breyers, Wall’s and Ben & Jerry’s.
They went on to say the demerger of Ice Cream is the most likely separation route. Other options for separation will be considered to maximize returns for shareholders.
Unilever stated that separation activity will begin immediately, with full separation expected by the end of 2025. Unilever CEO Hein Schumacher is quoted as saying: “We are committed to carrying out our productivity programme in consultation with employee representatives, and with respect and care for those of our people who are impacted.”
It is too soon to know what the impact for the Union Street plant is.
The Simcoe plant has a long history with the town and the county.
It has been making ice cream since 1922 and it was Unilever’s only ice cream plant in Canada.
Written by Jeremy Hall