April 17, 2024

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Unilever to spin off its ice cream unit including Ben & Jerry's; Shares rose 5%

Unilever to spin off its ice cream unit including Ben & Jerry's;  Shares rose 5%

A family enjoys the visitor attractions at the Ben & Jerrys factory in Waterbury, Vermont on June 24, 2021.

Christiana Botic | Boston Globe | Getty Images

Shares of consumer goods giant Unilever rose more than 5% on Tuesday after the company announced plans to spin off its ice cream unit, which includes Ben & Jerry's and Magnum, as part of a restructuring that will affect 7,500 jobs.

“The proposed changes are expected to impact around 7,500 predominantly office jobs globally, and total restructuring costs are now expected to amount to around 1.2% of total group turnover for the next three years (up from around 1% of total group turnover at previously announced). ” a statement said.