Unilever's ice cream spinoff on hold due to US shutdown
Unilever has hit pause on splitting off its ice cream brands—think Ben & Jerry's, Magnum, and Breyers—because the ongoing US government shutdown has frozen key regulatory approvals.
The big move, originally planned for November 2024, can't go ahead until the SEC is back in action and the New York Stock Exchange listing gets the green light.
Unilever was banking on this move
This delay is more than just paperwork.
Unilever was hoping to shift focus (and money) into faster-growing areas like beauty and personal care.
Now, with inflation already making things tricky, there's more uncertainty about how the standalone ice cream company will do once it's on its own.
What's next for Unilever?
Unilever says it'll pick things up as soon as regulators are ready.
The split doesn't need a shareholder vote, but a planned meeting about share capital will still happen.
Once the spinoff is done, Unilever won't steer the new company, though they'll have a senior exec on the board for a bit to help out.