Ben & Jerry’s founders ask Unilever to release brand ahead of Magnum spin-off IPO

Ben & Jerry’s co‑founders Ben Cohen and Jerry Greenfield have asked parent company Unilever to “release” the ice cream brand from its planned Magnum‑led spin‑off ahead of a scheduled market listing, saying the business can no longer thrive as part of a conglomerate that undermines its founding mission.

In a letter to Unilever’s board, the founders wrote, “We no longer believe Ben & Jerry’s can thrive as part of a conglomerate that fails to support its founding mission, and which is reducing the company’s value by undercutting one of the critical reasons why customers love and support the brand.” Unilever has said Magnum, which is separating from the group, is “not for sale” and that it expects the new ice cream company’s sales to grow between 3% and 5% annually from 2026.

Unilever plans to list The Magnum Ice Cream Company in Amsterdam in November, retaining an initial 20% stake in the spun‑off business with the expectation of reducing that holding over time. The spin‑off will group several of Unilever’s frozen dessert brands, with Magnum positioned as the flagship label for the separate company.

Unilever acquired Ben & Jerry’s in 2000, but the two have had a strained relationship at times because Ben & Jerry’s has been publicly outspoken on social and political issues. In recent years the brand and its founders have clashed with Unilever management over activism and communications; last year Ben & Jerry’s said Unilever had urged it to stop public criticism of then‑President Donald Trump.

The founders’ call to be separated from the spin‑off marks the latest public disagreement between the makers of the Vermont‑born brand and their corporate owner. Cohen and Greenfield framed their demand as a defence of customer trust and the brand’s mission, arguing it is undercut when decisions are made by a broader consumer‑goods conglomerate.

Unilever, a London‑listed group that also owns brands such as Marmite and Dove, has presented the spin‑off as an opportunity to unlock value in its ice cream business and to create a standalone company focused on frozen desserts. The company told investors it expects steady sales growth at the new group and reiterated that Magnum itself is not on the market for sale.

The listing timetable is set for November in Amsterdam. Any change to the structure or scope of the planned spin‑off would require discussions and approvals within Unilever’s board and among its advisers. For now, the dispute remains a public appeal from the founders for Ben & Jerry’s to be treated as an independent entity rather than a brand within a spin‑off headed by Magnum.