Unilever plans to sell ice cream division Ben & Jerry's, shares rise 6%

From CNBC: 2024-07-25 04:11:13

Unilever Plc plans to sell its ice cream division, generating $8.5 billion in annual sales, to improve its performance. Shares rose by 6.8% after the company announced the spinoff on track for completion by end of 2025. The company reported sales growth across all segments, with beauty and well-being expanding 7.1% and ice cream lagging at 0.6%. Unilever aims to streamline its business by separating the ice cream unit, which includes Ben & Jerry’s and Magnum. Organic sales growth was 3.9% in the second quarter, slightly below expectations. Analysts anticipate improved earnings per share due to increased gross margin guidance.



Read more at CNBC:: Unilever pops 6% on guidance raise, says Ben & Jerry’s spinoff on track