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Ben & Jerry’s (UL+0.46%) founders, Ben Cohen and Jerry Greenfield, are reportedly in talks to buy back their namesake ice cream brand from Unilever.
Bloomberg, citing sources familiar with matter, reported that the pair, who sold the company to Unilever in 2000 for $326 million, have recently discussed a potential deal.
Cohen and Greenfield may seek to partner with investors who share their social values if any transaction is made, although details remain confidential. Both the founders and Unilever did not immediately respond to Quartz’s requests for comment.
Unilever, however, told Bloomberg that the ice cream unit is “not for sale,” and is part of its broader efforts to improve performance and cut costs.
In March 2024, Unilever, based in London, revealed plans to spin off Ben & Jerry’s along with other brands such as Magnum and Breyers, with the demerger set be completed by the end of 2025. While the company said it would explore other options, it made clear that the separation was the most likely outcome. As part of the restructuring, Unilever also announced plans to cut over 7,000 jobs globally.
The demerger aims to take the ice cream business public, with shares listed in Amsterdam, London, and New York. The U.S. remains the largest market for Unilever’s ice cream brands, generating $8.6 billion in sales in 2023.
Founded in 1978 in a renovated gas station in Burlington, Vermont, Ben & Jerry’s has long been tied to progressive values, particularly those focused on social justice. The company continues to advocate for racial equality, climate change action, and LGBT rights.
While Unliever has managed the brand, Cohen and Greenfield’s commitment to its social mission has occasionally caused friction, such as when Ben & Jerry’s halted sales in Palestinian territories occupied by Israel in 2021.
As the situation evolves, it remains to be seen whether the founders will successfully reclaim their iconic ice cream brand, especially considering the potential billion dollar sum needed to pull it off.