Ben & Jerry's news: Founders eye purchase amid Unilever censorship tussle, future ownership uncertainty
February 27, 2025 | By Cheryl Casey | Correspondent Vermont ice cream icons Ben Cohen and Jerry Greenfield are thinking about buying back their eponymous brand from parent company Unilever, according to recent media reports.
Ben & Jerry’s ice cream factory on Rt. 100 is one of Waterbury’s largest private employers. File photo
An article published by Fortune.com on Feb. 27 reveals that Cohen and Greenfield have had initial conversations, citing people familiar with the circumstances.
Unilever purchased the business in 2000 for a cool $326 million in a deal that gave Ben & Jerry’s independent board of directors control over the brand’s social mission focusing on progressive, social justice issues. The arrangement sometimes caused tension between the board and Unilever, and the relationship has been visibly melting since Ben & Jerry’s decided to cease sales in the Israeli-occupied West Bank in 2021.
In mid-November, Ben & Jerry’s filed a censorship lawsuit against Unilever, alleging that the packaged goods giant “unilaterally blocked” statements made by the ice cream company about the issue of Palestinian human rights.
Then on Feb. 13, the company filed an updated complaint, saying that earlier that day president Peter ter Kulve “unilaterally erected a policy prohibiting Ben & Jerry’s from issuing any posts criticizing President Trump until further review.” Counsel for Ben & Jerry’s asked Southern District Court of New York Judge Kevin P. Castel to have this latest instance added to the censorship suit.
Both sides have filed multiple motions since November, with Unilever arguing that the suit should be dismissed because Ben & Jerry’s is a wholly owned subsidiary, therefore Unilever cannot legally sue itself.
Ben & Jerry’s, on the other hand, states in the recent filing that its directors are “the appropriate parties to bring suit in case of a breach by Unilever” because of “the parties’ multiple agreements cementing the Independent Board’s authority over Ben & Jerry’s Social Mission and brand integrity.”
A status conference with Judge Castel was scheduled for today in federal court in New York.
This latest action comes as Unilever’s chief executive prepares to leave his position. The UK-based company announced on Tuesday that Hein Schumacher is stepping down as chief executive officer and as a member of the company’s board of directors as of March 1 and will leave the company by May 31.
Unilever Chief Financial Officer and Executive Director Fernando Fernandez will take over the role of chief executive effective March 1, the announcement says.
Schumacher has presided over the roll-out of corporate plans to separate Unilever’s ice cream brands, including Ben & Jerry’s, as a stand-alone entity.
“Hein introduced and led a significant productivity programme and the commencement of the Ice Cream separation, both of which are fully on track,” Unilever Board Chair Ian Meakins said in the announcement. “The Growth Action Plan has put Unilever on a path to higher performance and the Board is committed to accelerating its execution. We are grateful for Hein’s leadership, and we wish him the very best for the future.”
A search will be done for a permanent chief financial officer for Unilever, the company said. In the interim starting March 1, current Deputy Chief Financial Officer and Group Controller Srinivas Phatak will assume the role of acting CFO.
As for Cohen and Greenfield buying back the brand, the founders would likely need to partner with investors who aren’t just socially minded but also have very deep pockets. In an emailed statement to Fortune.com, a spokesperson for Unilever said, “Ben & Jerry’s is an important part of the ice cream business, and it’s not for sale.”
A spokesperson for Ben & Jerry’s said in an email to Waterbury Roundabout that “ongoing litigation prevents us from commenting on specific matters at this time. However, we encourage all citizens to continue asking hard questions to those in positions of power.”
Unilever did not respond to the Roundabout’s requests for comment.