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    ULVR   GB00B10RZP78

UNILEVER PLC

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Delayed London Stock Exchange  -  11:35 2022-08-12 am EDT
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Ben & Jerry's sells interest in Israel

07/01/2022 | 10:41am EDT

Ben & Jerry's ice cream parent company Unilever has sold its business interest in Israel to its distributor there in an effort to address its brand in connection with the country and West Bank settlements.

Vermont-based Unilever announced on Wednesday the sale to American Quality Products, which will sell Ben & Jerry's under its Hebrew and Arabic names in Israel and the West Bank.

Ben & Jerry's ice cream has been an item in Israel since 1987 but critics had slammed the company over the sales and Israel's support of settlements in the West Bank, which is against international law.

"Unilever has used the opportunity of the past year to listen to perspectives on this complex and sensitive matter and believes this is the best outcome for Ben & Jerry's in Israel," Unilever said in a statement. "The review included extensive consultation over several months, including with the Israeli government.

Unilever Israel employs around 2,000 people, has four local manufacturing plants and works with a network of around 2,000 local suppliers and service providers. The company said it will not change its stands in rejecting "any form of discrimination or intolerance."

"Antisemitism has no place in any society," the company said. "We have never expressed any support for the Boycott Divestment Sanctions (BDS) movement and have no intention of changing that position."

Alyza Lewin, president of the Louis D. Brandeis Center for Human Rights Under Law, which represented American Quality Products owner Avi Zinger, said he will no longer be bound by the company's more liberal image.

"Avi Zinger is able to and has the right to continue selling the same Ben & Jerry's ice cream he's been selling for 35 years in those areas forever, in perpetuity," Lewin said, according to the Times of Israel. "Ben & Jerry's in Vermont no longer has any authority over Avi. They can't stop him from selling Ben & Jerry's ice cream."

Copyright 2022 United Press International, Inc. (UPI). Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent., source International Top News

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Financials
Sales 2022 57 858 M 59 323 M 59 323 M
Net income 2022 5 103 M 5 233 M 5 233 M
Net Debt 2022 22 722 M 23 298 M 23 298 M
P/E ratio 2022 22,6x
Yield 2022 3,66%
Capitalization 118 B 121 B 121 B
EV / Sales 2022 2,42x
EV / Sales 2023 2,34x
Nbr of Employees 148 012
Free-Float 95,2%
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Last Close Price 46,18 €
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Alan Jope Chief Executive Officer & Executive Director
Graeme David Pitkethly Chief Financial Officer & Executive Director
Nils Smedegaard Andersen Chairman
Richard Slater Chief Research & Development Officer
Nitin Paranjpe Chief Operating, Transformation & People Officer
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