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UNILEVER PLC

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Unilever : reaches new business arrangement for Ben & Jerry's in Israel

06/29/2022 | 08:48am EST
Unilever reaches new business arrangement for Ben & Jerry's in Israel

Published: 29/06/2022

Average read time: 2 minutes

Unilever today announced it has reached a new arrangement for Ben & Jerry's in Israel which will ensure the ice cream stays available to all consumers.

The company has sold its Ben & Jerry's business interests in Israel to Avi Zinger, the owner of American Quality Products Ltd (AQP), the current Israel-based licensee. The new arrangement means Ben & Jerry's will be sold under its Hebrew and Arabic names throughout Israel and the West Bank under the full ownership of its current licensee.

Under the terms of Unilever's acquisition agreement of Ben & Jerry's in 2000, Ben & Jerry's and its independent Board were granted rights to take decisions about its social mission, but Unilever reserved primary responsibility for financial and operational decisions and therefore has the right to enter this arrangement.

The new business arrangement follows a Unilever review of Ben & Jerry's in Israel after the brand and its independent Board announced last year its decision to discontinue sales of its ice cream in the West Bank.

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. The review included extensive consultation over several months, including with the Israeli Government.

Unilever rejects completely and repudiates unequivocally any form of discrimination or intolerance. Antisemitism has no place in any society. We have never expressed any support for the Boycott Divestment Sanctions (BDS) movement and have no intention of changing that position.

Unilever is very proud of our business in Israel which supplies everyday household products to people across the country. Today, Unilever Israel employs around 2,000 people of diverse backgrounds, has four local manufacturing plants, and works with a network of around 2,000 local suppliers and service providers - helping to support the livelihoods of tens of thousands of Israelis across its value chain.

Over the last decade, Unilever has invested more than 1 billion Shekels (around €250 million) in our business in Israel. We look forward to continuing to make a positive contribution to Israel's economy and society for many decades to come, and hope that Israelis and Palestinians can reach a peaceful resolution of their conflict.

Media Contacts
  • Press-office.london@unilever.com

Disclaimer

Unilever plc published this content on 29 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 June 2022 12:47:06 UTC.


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Sales 2022 59 675 M 65 155 M 65 155 M
Net income 2022 5 623 M 6 140 M 6 140 M
Net Debt 2022 22 438 M 24 498 M 24 498 M
P/E ratio 2022 20,7x
Yield 2022 3,69%
Capitalization 118 B 129 B 129 B
EV / Sales 2022 2,35x
EV / Sales 2023 2,32x
Nbr of Employees 148 012
Free-Float 95,4%
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Graeme David Pitkethly Chief Financial Officer & Executive Director
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Nitin Paranjpe Chief Operating, Transformation & People Officer
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