Key Takeaways
- Ben & Jerry’s founders are exploring a buyback but will need significant financial backing to make it happen.
- Unilever plans to spin off its ice cream division but insists Ben & Jerry’s is not for sale.
- This incident raises questions about brand independence and whether socially driven businesses can thrive outside corporate ownership.
The founders of Ben & Jerry’s, Ben Cohen and Jerry Greenfield, have shown interest in repurchasing their iconic ice cream brand from Unilever, according to sources familiar with the matter.
Cohen and Greenfield founded Ben & Jerry’s in Burlington, Vermont, in 1978 and sold it to Unilever in 2000 for $326 million.
Currently, the duo has reportedly held initial discussions in recent months about a potential deal and may seek socially conscious investors to support the transaction.
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A sale of Ben & Jerry’s could be valued at several billion dollars, requiring substantial financial backing.
Discussions remain in the early stages, and there is no certainty that a deal will materialize.
However, Unilever emphasized in a statement that Ben & Jerry’s remains a key part of the business and is "not for sale."
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Meanwhile, the global consumer goods company has been preparing to spin off its ice cream division, which includes brands like Breyers and Magnum, as part of a cost-cutting initiative.
Unilever plans to list the new entity publicly in Amsterdam, with secondary listings in London and New York.
This move will allow the new entity to sharpen its marketing strategy, focusing on brand differentiation and consumer engagement without the constraints of a larger corporate structure.
Founders Bet on Brand’s Future
Beyond its playful flavors like Cherry Garcia, Chubby Hubby, and Bohemian Raspberry, Ben & Jerry’s built a reputation for championing progressive social causes.
When Unilever acquired the brand, an independent board was established to oversee its social mission, often putting it at odds with its corporate parent.
Tensions escalated in 2021 when Ben & Jerry’s announced plans to stop selling ice cream in the West Bank, sparking a dispute with Unilever.
In response, a local manufacturer took over Unilever's Israeli ice cream operations.
If Cohen and Greenfield succeed in reacquiring Ben & Jerry’s, it could set a precedent for legacy founders reclaiming control to realign brands with their original social missions.
It is a growing trend in consumer-driven businesses, where purpose-driven brands may find greater value in impact-focused investment rather than big corporate backing.
Meanwhile, competitor Häagen-Dazs teamed up last year with Emily in Paris for a limited-edition ice cream collection, which launched alongside the show’s fourth season.
