Unilever plans to hive off it’s ice cream business including Walls and Ben & Jerry’s.

Unilever is drumming up interest from private equity groups for its ice cream division after the consumer goods business announced  plans to hive off the unit. Both Morgan Stanley and JP Morgan had reached out to buy out investors to solicit interest for  popular ice cream brands  like Wall’s Magnum and Ben & Gerry’s valued at around €17 bn.

This move comes after CEO Hein Schumacher set out plans to split off ice cream business and cut  7, 000 jobs, and expects the ice cream business would probably be listed by the end of 2025.

The Netherland-based ice cream arm accounts about 16 per cent of sales, and Schumaker and Nelson Peltz plan to spin off the business would typically be tax free  after years of lacklustre growth.

In 2017 Unilever has sold assets to private equity groups like KKR who bought its spreads business in a €7bn deal. CVC which bought Unilever’s tea business for €4.5bn in 2021. After selling its ice cream division Unilever  the group which makes Marmite, Hellmann’s and Dove Soap, cleaning products like Domestos and Cif, will be left with four businesses covering beauty, well-being, personal care, Home care and nutrition.