Unilever's ice cream division to get Amsterdam headquarters after spin-off
The ice cream division Unilever is in the process of spinning off will stay in the Netherlands after the separation, the company announced at the presentation of its 2024 figures on Thursday. The new, independent ice cream company will be floated on the stock exchange and will be listed in Amsterdam, New York, and London, with its headquarters in Amsterdam.
Unilever also announced that it has appointed a CEO for the separated ice cream division - Jean-Francois van Boxmeer, the former CEO of Heineken and the current board chair of Vodafone.
According to Unilever, the separation of the Ice Cream division is on track to be completed by the end of the year. “We are making good progress on the key work streams,” said Unilever CEO Hein Schumacher.
The company announced in March last year that it was spinning off its ice cream brands, which include Cornetto, Ben & Jerry’s, and Magnum. According to Schumacher, ice cream no longer fits in the company’s portfolio. “Ice cream is a frozen product. That is a completely different business model than personal care or detergents,” he said at the time.
Last year, Unilever saw its turnover increase by 1.9% to €60.8 billion. The underlying operating profit was €11.2 billion, up 12.6% compared to 2023. Unilever’s power brands saw an underlying sales growth of 5.3% and volumes increased by 3.8 percent. The ice cream division grew by 3.7 percent.
