Unilever's Ice Cream Business Sets Course for Trio-Listing

Unilever plans to demerge its ice cream business, listing it in Amsterdam, London, and New York. Part of CEO Hein Schumacher's strategy, this move aims to streamline operations, while a €1.5 billion share buyback and a new productivity program are also underway. Chair Designate Jean-Francois van Boxmeer leads the separated entity.

Unilever announced on Thursday its decision to demerge its ice cream business, planning to list it on stock exchanges in Amsterdam, London, and New York. This strategic move is part of CEO Hein Schumacher's efforts to reduce costs and simplify the company's structure following a period of underperformance.

The British consumer goods giant, which owns beloved brands like Magnum and Wall's, revealed the specifics of the listing alongside its annual results and a €1.5 billion share buyback initiative. The newly separated ice cream business will be incorporated in the Netherlands and maintain its headquarters in Amsterdam.

Analysts had mixed reactions, with some favoring a clean sale or joint venture for this division. As Jean-Francois van Boxmeer takes his role as Chair Designate, Unilever expects modest market growth initially for 2025 but remains optimistic with a sales growth forecast within a 3%-5% range.

(With inputs from agencies.)